Friday, 22 August 2014
Last updated 13 hours ago
Jul 18 2011 | 8:35am ET
The battle over the future of Washington Mutual—and over allegations that four hedge funds illegally traded in the former bank’s debt—will continue well into this week.
U.S. Bankruptcy Judge Mary Walrath adjourned court early on Friday to allow Aurelius Capital Management’s top lawyer to attend court on Monday. The hearing on finalizing WaMu’s bankruptcy exit plan, originally scheduled to take just three days last week, could now extend until Thursday as both sides struggle to fit their witnesses in.
Aurelius and the three other hedge funds—Appaloosa Management, Centerbridge Capital Partners and Owl Creek Asset Management—helped craft WaMu’s Chapter 11 bankruptcy plan but refused to renew that support earlier this year. Some shareholders allege that the hedge funds used confidential information that they learned during the creation of the company’s reorganization plan.
A settlement of those allegations fell apart last month.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note