hahaha
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Auszug:
#3366ff">"If the bank is Chase, it could have major implications in Washington state. Federal regulators in September 2008 seized Seattle-based Washington Mutual and sold it to JPMorgan Chase & Co. The federal intervention, and JP Morgan's role, has been debated ever since."
den ganzen Artikel gibt es hier:
http://www.bizjournals.com/seattle/blog/2010/11/...major-us-bank.html
Gruß
Dude44
Nieman verlangt von dir, daß du dich auf
unser NIVEAU herunter begibst.
Washington Mutual Inc., the holding company for a failed bank, will be required to use the so-called cramdown process for winning approval of the Chapter 11 plan at the confirmation hearing that begins tomorrow. All but three classes of creditors and equity holders voted down the plan.
WaMu’s plan was accepted by the required majorities of creditors in the classes for senior notes, senior subordinated notes, and general unsecured creditors. The remaining seven classes voted “no.”
With more than one class voting “yes,” WaMu still can win confirmation using cramdown, where the bankruptcy judge must determine that dissenting creditors and equity holders are receiving more than they would through liquidation in Chapter 7. In certain circumstances, using cramdown means that subordinated classes can’t receive anything.
Classes that voted against the plan include guarantee claims, so-called PIERS claims, and holders of the bank subsidiary’s senior notes.
“It is ironic that” the PIERS class voted against the plan, said Kevin Starke from Stamford, Connecticut-based CRT Capital Group LLC. In a message to customers, Starke said that the PIERS class “needs this plan to be confirmed in the biggest hurry.” Starke noted that no one in the class “opted out of granting” releases.
The voting results were posted to the bankruptcy court’s website. The plan is based on settlements with the Federal Deposit Insurance Corp. and JPMorgan Chase & Co. The examiner concluded in his Nov. 1 report that the plan “reasonably resolves contentious issues.”
WaMu’s revised plan will distribute more than $7 billion to creditors. For a summary of changes WaMu made to its plan in October, click here for the Oct. 7 Bloomberg bankruptcy report. To read about the settlement before it was modified, click here for the May 24 Bloomberg bankruptcy report. Click here to read the May 18 Bloomberg bankruptcy report for a summary of WaMu’s plan.
The WaMu holding company filed under Chapter 11 in September 2008, one day after the bank subsidiary was taken over. The bank, which had been the sixth-largest depository and credit-card issuer in the U.S., was the largest bank failure in the country’s history. The holding company filed formal lists of assets and debt showing property with a total value of $4.49 billion against liabilities of $7.83 billion.
The holding company Chapter 11 case is In re Washington Mutual Inc., 08-12229, U.S. Bankruptcy Court, District of Delaware (Wilmington).
http://www.bloomberg.com/news/2010-11-30/...ankruptcy.html?cmpid=yhoo
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Dude44
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