Dec 18, 2009
Privilege Takes Center Stage as WaMu Bankruptcy Heats Up
Lawyers for Washington Mutual filed papers Friday in the bank’s Chapter 11 case claiming Sullivan & Cromwell, on behalf of WaMu’s new owners at JPMorgan Chase, has been sending out letters asking WaMu’s old law firms to turn over client files on WaMu that include privileged material. The letters claim JPMorgan should have access to the documents because JPMorgan and WaMu are essentially the same entity now and therefore have “joint privilege.” WaMu’s lawyers at Quinn, Emanuel, Urquhart, Oliver & Hedges disagree.