Washington Mutual Preferred fka WAMPQ

[hahawin]

"WaMu filed for Chapter 11 bankruptcy in Delaware late Friday, listing $32.9 billion in assets and $8.2 billion in total debts. Technically, that means the holding company for the thrift wasn’t insolvent."

http://www.bizjournals.com/austin/stories/2008/09/29/daily12.html

Because:

Wamu needs B.K court to obtain its NOL benifit.
WaMu needs B.K court to recapture its $4.4B cash in JPM banks
Wamu needs B.K court to against any claim rised from the result of seizure of WMB.

filed chapter 11 is necessary step to consolidate its business and protects company assets being further taken away after the seizure of its banking units by FDIC.