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Bankruptcy court lets Washington Mutual reorganize

• Randall Chase,
After a long and contentious legal battle and more than three years in bankruptcy, Washington Mutual Inc. on Friday finally won court approval of a reorganization plan. 

"It took three and a half years, but I think the result is remarkable and well worth it," said Judge Mary Walrath, who had twice rejected reorganization plans filed by Washington Mutual before giving her blessing to a revised plan Washington Mutual submitted in December.

"I'm happy to confirm this plan," the judge added. "I thank all the parties for not giving up."


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