Winter Leadership Conference | December 5-7 | Rancho Palos Verdes , CA Register Today View Schedule

In re Washington Mut. Inc.

Ruling: 
Claim based on sale of trust certificates was not subject to subordination where certificates were not securities of debtor or affiliate.
Procedural posture: 
Before the court was debtor's objection to the claim filed by a claimant. The crux of the issues presented was whether the claimant had properly pleaded a claim and if that claim should be subordinated. The claimant alleged that a subsidiary of a bank owned by debtor solicited, offered, and sold trust certificates to the claimant pursuant to offering documents containing material misrepresentations and omissions.
Issue: 
ABI Membership is required to access the full summary of In re Washington Mut. Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on December 20,2011, LexisNexis #0112-084