This document always seems to be forgotten..............
NOTICE REGARDING ABANDONMENT OF EQUITY INTERESTS IN WASHINGTON MUTUAL BANK
PLEASE TAKE NOTICE that, pursuant to the Order Authorizing Washington Mutual, Inc. to Abandon Its Equity Interests in Washington Mutual Bank, dated July 11, 2011 [D.I. 8135], and the Order Reaffirming Order Authorizing Washington Mutual, Inc. to Abandon Its Equity Interests in Washington Mutual Bank, dated September 19, 2011 [D.I. 8629] (collectively, the “Orders”), the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) (i) authorized Washington Mutual, Inc. (“WMI”) and its chapter 11 estate, upon the entry of an order confirming a chapter 11 plan in their chapter 11 cases, to abandon their equity interests in the outstanding stock (the “WMB Stock”) of Washington Mutual Bank (“WMB”), and (ii) established that, upon such abandonment, WMI and its chapter 11 estate shall automatically be deemed to have permanently surrendered and relinquished all of their right, title and interest to the WMB Stock, including any recovery rights and/or litigation claims with respect thereto; provided, however, that such abandonment shall not constitute a withdrawal or release of any claims asserted by WMI as a creditor of WMB against the Federal Deposit Insurance Corporation (the “FDIC”), in its capacity as receiver for WMB or in its corporate capacity, on account of WMI’s status as a creditor, and does not constitute a withdrawal or release of any rights under the Second Amended and Restated Settlement Agreement, dated as of February 7, 2011, among WMI, FDIC and the other signatories thereto (as amended, the “Global Settlement Agreement”).
Escrow Returns: $15-$25 Billion
