Attleboro mutual liquidating trust
/PRNewswire/ -- WMI Liquidating Trust, formed pursuant to the confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc.
("WMI"), today filed a lawsuit in King County Superior Court in the against 16 former officers and directors of WMI (the "Defendants").
Here, the plaintiff argues that the Housing Court has jurisdiction because his claims involved a "housing" problem which affected both his economic welfare and his tenants'.
as is concerned directly or indirectly with the health, safety, or welfare of any occupant of any place used, or intended for use, as a place of human habitation and the possession, condition, or use of any particular housing accommodations .
We conclude that the Housing Court did not have subject matter jurisdiction over the plaintiff's action.
Oral arguments were then heard on the jurisdictional issue. It provides, among other things, "The [housing court] shall also have jurisdiction of all housing problems, including all contract and tort actions which affect the health, safety and welfare of the occupants or owners thereof, arising within and affecting residents in .
The funds from WMI were already on deposit at WMB, so the transfer increased the amount of regulatory capital on WMB's balance sheet but did not address WMB's liquidity shortage.
On of capital it received just 15 days earlier from WMI were seized by the FDIC. WMI Liquidating Trust is seeking damages, costs and reasonable attorneys' fees, and other relief as the court deems just and proper, including prejudgment interest at the legal rate.