A summary judgment hearing in a federal court in Delaware was Washington Mutual Inc.'s first chance to try to claw back some of the billions of dollars in assets the holding company argues were wrongfully stripped away when the government seized and sold its banking operations to JPMorgan Chase & Co. The hydralike litigation has become a case study in how a bank holding company can create a legal headache for the government, and for companies that buy banking assets, long after its main business has disappeared.
Washington Mutual Sues to Get Billions Back From FDIC
The National Law Journal
October 27, 2009