WILMINGTON, Del. (AP) — The judge in Washington Mutual Inc.’s bankruptcy case has begun a hearing on confirmation of the company’s reorganization plan by excluding a report from a court-appointed independent examiner.
The report concludes that the legal settlement underlying WaMu’s plan is reasonable.
Shareholders who oppose WaMu’s plan argued Thursday that the report should not be admitted as evidence. They say it is based on unsworn interviews and confidential attorney-client material that WaMu has said it will not use to defend its plan.
WaMu attorneys said the examiner’s conclusions should be considered even though the report, which the shareholders requested, is not an expert report in the typical legal sense.
