The Global Settlement resolved litigation stemming from the failure of WaMu Bank in 2008 and the subsequent purchase of WaMu Bank's assets by JPMC and was the basis for the Debtors' Sixth Amended Joint Plan of Reorganization (the "Plan"). Despite finding that the Global Settlement was fair and reasonable, Judge Walrath denied confirmation of the Plan because she found the releases granted by the Debtors to certain parties under the Plan to be excessively broad and impermissible under applicable law. Background On September 25, 2008, WaMu Bank's primary regulator, the Office of Thrift Supervision, seized WaMu Bank and appointed the FDIC receiver. The same day, the FDIC sold substantially all of WaMu Bank's assets to JPMC through a Purchase & Assumption Agreement (the "Purchase Agreement") under which JPMC obtained substantially all the assets of WaMu Bank for $1.88 billion in cash consideration and assumed more than $145 billion in deposit and other liabilities.