Washington Mutual judge postpones hearing, negotiations on reorganization plan continue

WaMu bankruptcy judge postpones hearing

WILMINGTON, Del. — Washington Mutual’s bankruptcy case has hit another snag, as talks between attorneys for the bank holding company and creditors objecting to its reorganization plan forced the postponement of another hearing.

At the request of a Washington Mutual attorney, the judge presiding over the Chapter 11 case in Delaware agreed to postpone a hearing that was to be held Thursday until July 20.

WaMu attorney Brian Rosen said he hoped additional negotiations scheduled for Monday will result in an understanding on what he called a multitude of issues.

The judge had been scheduled to hear arguments Thursday on several key motions, including the company’s request for approval of documents outlining its reorganization plan and the process for soliciting votes on it from creditors.