WMI sues XL, Chartis and others in $250mn D&O dispute
Washington Mutual is suing its directors' and officers' (D&O) insurers in an attempt to recover up to $265mn underwritten by a group led by XL Specialty and Chartis subsidiary National Union Fire Insurance (NUFI).
Washington Mutual Inc (WMI) is claiming costs relating to its lawsuit against its directors for their decision on 10 September 2008 to inject $500mn "downstream" from the holding company to Washington Mutual Bank.
Two weeks later the bank was seized by regulatory body the Office of...
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