WaMu bankruptcy plan hits stumbling block
Preferred shareholders of Washington Mutual Inc., the former owner of the biggest U.S. bank to fail, voted against the company's $ A proposed plan to bring what's left of Washington Mutual out of bankruptcy has hit a snag - not enough of the Seattle company's preferred shareholders voted for the plan to formally approve it.
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#1 Feb 15, 2012
THE LEAST THE JUDGE IN THIS CASE SHOULD DO IS APPROVE THE PAYMENT OF PRINCIPAL AND INTEREST TO THE BOND HOLDERS AND LET THE PREFERRED AND COMMON STOCK HOLDERS FIGHT THE REMAINDER OF THE CASE OUT IN THE COURTS. THIS HAS TAKEN MUCH TOO LONG TO SETTLE.
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