WaMu will split expected tax refunds with JPMorgan, FDIC

WaMu will split expected tax refunds with JPMorgan, FDIC

WILMINGTON, Del., March 12 (Reuters) – Washington Mutual Inc (WAMUQ.PK) has reached a deal that will transfer to it a bank deposit worth about $4 billion that was also claimed by JPMorgan Chase & Co (JPM.N) and the Federal Deposit Insurance Corp, WaMu said on Friday.

The deal will allow WaMu, which is in bankruptcy, to split an expected tax refund of $3 billion with JPMorgan and an expected tax refund of $2.6 billion with the FDIC.

WaMu will get 30 percent of the first refund and about 40 percent of the second.

The bank said it will finalize the agreement and include it in a plan of reorganization it expects to file with the Delaware bankruptcy court by the end of March.

The case is In re Washington Mutual Inc, U.S. Bankruptcy Court, District of Delaware (Wilmington), No. 08-12229. (Reporting by Tom Hals; editing by John Wallace)

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