Wamu liquidating trust ampeg b15n dating
Stockholders in the company become unit holders a/k/a beneficiaries of the trust.
The trust units are not tradable but shares of stock in a company that has dissolved are typically are no longer tradable either.
The Court therefore reversed the lower court’s denial of the insurers’ motion to dismiss the case.
The trust sought a declaration that the demand was covered under policies issued by the insurers and asserted that it held a reserve of million to potentially satisfy Washington Mutual’s indemnification obligations to the former directors and officers.
A Washington judge may decide as early as this week whether two former Washington Mutual executives who were accused of taking gambles that led to the biggest bank failure in U. history are entitled to .1 million in “golden parachute” payments.
The three, including former Wa Mu CEO Kerry Killinger, settled the FDIC’s suit for million in 2011.KCC does not undertake any obligation to update, modify, revise or reorganize the information provided herein, or to notify you or any third party should the information be updated, modified, revised or reorganized.In no event shall KCC be liable to you or any third party for any direct, indirect, incidental, consequential or special damages (including, but not limited to, damages arising from the disallowance of a potential claim against a client of KCC or damages to business reputation, lost business or lost profits), whether foreseeable or unforeseeable and however caused, even if KCC is advised of the possibility of such damages.The potential that claims would go unpaid had yet to become a “real world” problem, the Court held.Moreover, the trust’s establishment of a reserve to potentially satisfy Washington Mutual’s indemnification obligations was an “illusory” harm to the trust because those “potential obligations exist whether or not coverage is available to the D&Os.” The Court concluded that “[t]he Trust’s only interest in having its dispute litigated now is apparently to receive judicial guidance about how much coverage the Trust were to initiate litigation against them.” However, “[t]he Trust’s desire to receive advice is not a cognizable interest that will justify a Delaware court exercising its jurisdiction to decide this dispute.” Because the Court found the trust’s declaratory judgment count to be unripe, it concluded that the counts for breach of contract and breach of the implied duty of good faith and fair dealing necessarily were also unripe.