JPMorgan, FDIC Can't Shake $2M WaMu Lease Suit

Law360, New York (October 21, 2011, 1:23 PM EDT) -- JPMorgan Chase Bank NA and the Federal Deposit Insurance Corp. failed Thursday to nix a $2 million breach of contract suit lodged over a New York building lease allegedly procured by JPMorgan when the bank purchased former Washington Mutual Inc. assets.

U.S. District Judge John Gleeson said property owner Hillside Metro Associates LLC had standing to claim that JPMorgan assumed its WaMu lease was part of a bundle of assets the bank bought from the FDIC when WaMu went belly up in September 2008. He refused...
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