Recovered $15.6 million for institutional investors holding $600 million in Washington Mutual notes
Plaintiff(s):
Institutional investors
Case type / claims:
Representation of noteholders in bankruptcy proceedings concerning over $600 million in senior and junior subordinated debt issued by Washington Mutual Bank. Claims involved allocation of proceeds and priority of creditor recovery.
Defendant(s):
Washington Mutual, Inc. and affiliates
Jurisdiction:
U.S. Bankruptcy Court for the District of Delaware
Year:
2010
Outcome:
- Favorable settlement achieved, resulting in a $15.6 million distribution to G&E’s clients.
