It has been over a year since Washington Mutual plummeted in the biggest bank failure in U.S. history. The fight over the remnants of the parent company still battle on.
The $4 billion which is claimed by both J.P. Morgan Chase & Co. and the Seattle thrift's holding company, Washington Mutual Inc., is expected to come to a close soon, following the federal bankruptcy judge's ruling.
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The first time during the credit crisis when bondholders were unprotected by government regulators came following the holding company's collapse into bankruptcy in September 2008.
J.P. Morgan had paid $1.9 billion in return for $118 billion in deposits, 2,239 branches, 4,932 ATM's and 43,198 employees. However, the holders of senior and subordinated debt in Washington Mutual's parent company were left stranded without compensation.
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