WILMINGTON, Del. — A Delaware judge on Tuesday granted a request from a court-appointed independent examiner for more time to review claims and assets in Washington Mutual Inc.’s bankruptcy.
The examiner’s request for more time prompted Washington Mutual to postpone Tuesday’s scheduled hearing on whether to approve the disclosure statement describing the bank holding company’s proposed reorganization plan.
The hearing, a critical step in Chapter 11 reorganization, is now tentatively set for Sept. 24. The deadline for the examiner to submit his final report was moved from Oct. 8 to Nov. 1.
Washington Mutual attorney Brian Rosen suggested to Judge Mary Walrath that she schedule a hearing to confirm the company’s reorganization plan to start Dec. 1, but Walrath did not commit to that date.
Walrath appointed the examiner after company shareholders said they had been stonewalled in trying to obtain information about a proposed settlement of lawsuits that is the basis for the company’s reorganization plan.
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