WaMu files bankruptcy petition in Delaware.
Now I am sure you are saying WHAT? I thought JPMorgan Chase just bought WaMu. Well they did however, JPMorgan did not purchase WaMu's holding company of Washington Mutual, Inc. And Washington Mutual, Inc. has filed a petition for Chapter 11 bankruptcy protection from creditors in U.S. bankruptcy court in Delaware.
In the voluntary petition filed late Friday, the company listed assets of $32.9 billion, and debts of $8.2 billion, putting it in the top 10 largest U.S. bankruptcy cases ever filed.
Bank of New York Mellon, as a trustee for debtholders, was listed as the company's largest creditor.
Washington Mutual, Inc's subsidiary, WMI Investment Corp, also filed for bankruptcy protection, Washington Mutual said in a statement.
The Chapter 11 bankruptcy petition, filed September 26, wasn't immediately available due to Web site maintenance. The Web site was expected to be operating again on September 27, around noon, Eastern time.
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