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.
WaMu will face trial in November over $4bn of low-ranking securities
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products