News & Announcements

WaMu $7 Billion Reorganization Plan Approved for Vote

Washington Mutual, Inc. announced that it has received court approval to send its latest reorganization to creditors and equity holders for a vote, a ruling which moves the three and one-half year-old bankruptcy closer to conclusion. A hearing to confirm the reorganization plan is scheduled for February 16, 2012.

Washington Mutual expects to distribute more than $7 billion in cash and other value to creditors and equity holders once it emerges from bankruptcy.

Weil, Gotshal & Manges has represented WaMu in its bankruptcy proceedings since it first filed for chapter 11 protection in September 2008.

The Weil team representing WaMu was led by Brian Rosen and included Tax partners Stuart Goldring and William H. Horton; Tax, Benefits, and Executive Compensation partner Steve Margolis; Corporate partner Cathy Dixon; Litigation partners David Hird, John Mastando, and Richard Slack; Business Finance & Restructuring associates Erica Coleman, Kelly DiBlasi, Julio Gurdian, David Litvack, Marvin Mills, Rahul Sharma, and Amy Wolper; Corporate associates Oliver DeGeest, Vaughan Petherbridge, and Georgia Quinn; Litigation associates Patricia Astorga, Brianna Benfield, Lisa Cloutier, David Dummer, Diana Eng, Greg Kau, Alex Levine, Adam Schloss, Rachel Swartz, Sunny Thompson, Daniel Venditti, Patricia Wencelblat, Jennifer Wine, Eric Wolfish, and Jarrad Wright; Tax associate Todd Hatcher; and Business Finance & Restructuring paralegal Nicole Aliseo.