Wamu Sues jpmorgan to Recover $4 Billion in Deposits
Bankruptcy
Lawyers for Washington Mutual Inc. have filed a bankruptcy court complaint against JPMorgan Chase & Co. over some $4 billion in disputed assets.
Seattle-based WaMu, which filed for Chapter 11 reorganization along with its Washington Mutual Investment Corp. affiliate in September, contends in the complaint that the funds are part of its bankruptcy estate.
The complaint was filed in U.S. Bankruptcy Court in Delaware on Monday, one month after New York-based JPMorgan filed its own adversary action asserting that the funds were included in its $1.9 billion purchase of substantially all of WaMu's banking assets from the Federal Deposit Insurance Corporation.
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