WaMu will face trial in November over $4bn of low-ranking securities

Washington Mutual Inc., the ex-owner of the biggest US bank to fail, will face a November trial in an investor lawsuit over ownership of $4bn in low-ranking debt known as trust-preferred securities, a judge said. US Bankruptcy Judge Mary Walrath in Wilmington, Delaware, scheduled a trial for Nov. 1, the first day of a confirmation hearing on WaMu’s reorganization plan.

3d rendering of a row of luxury townhouses along a street

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