Skip to content
Subscriber Only

WaMu Bankruptcy Judge to Approve $7 Billion Reorganization

Washington Mutual Inc. won court approval for a $7 billion reorganization plan that resolves some legal claims related to the biggest U.S. bank to fail.

Creditors may be paid the first chunk of money as early as March 8 once a deadline passes for shareholders to decide whether they will waive their right to sue over the collapse of WaMu’s former bank, said Fred Hodara, a lawyer for the creditors’ committee.