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Wednesday, October 15, 2008 10:57:10 PM
The companies have agreed that Washington Mutual will have control of the money if U.S. Bankruptcy Court Judge Mary Walrath in Wilmington, Delaware, approves an agreement over how the cash will be handled, according to court papers. The agreement preserves any rights JPMorgan may have to the money, which means that if a court later rules that some of the money belongs to the bank, the cash can be recovered no matter where it is held.
``It is an admission by JPMorgan that the money is ours,'' Washington Mutual attorney Marcia Goldstein said today in an interview.
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