Washington Mutual has reached an agreement with some of its creditors to end its bankruptcy. As per the deal, shareholders of the lender will get ownership stakes in the restructured company, adds The Wall Street Journal.

Shareholders have also agreed to form a new litigation trust that will try to raise money through lawsuits. The trust will be funded initially with $5 million and later have access to as much as $25 million more under certain circumstances.

Click here for the release from PR Newswire.

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