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Sunday, May 07, 2023 6:36:29 PM
Is the Washington Mutual Bankruptcy case over ?
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The Washington Mutual bankruptcy case has been mostly resolved, but there are still ongoing legal proceedings related to the case.
In 2008, Washington Mutual (also known as WaMu), which was one of the largest banks in the United States, filed for bankruptcy after suffering significant losses in the subprime mortgage crisis. The bank's assets were acquired by JPMorgan Chase, but the bankruptcy case continued for several years.
In 2012, a federal judge approved a settlement agreement between JPMorgan and the Federal Deposit Insurance Corporation (FDIC), which had been appointed as receiver for WaMu. Under the settlement, JPMorgan agreed to pay the FDIC $546 million to resolve claims related to WaMu's collapse.
However, there have been ongoing legal disputes related to the bankruptcy case, including lawsuits brought by investors who lost money when WaMu collapsed. In 2019, a federal judge approved a $210 million settlement between the investors and JPMorgan.
While most of the major legal issues related to the WaMu bankruptcy case have been resolved, there may still be ongoing proceedings related to specific claims or disputes.
IMO, nobody can rely on this data.
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