JPMorgan Says Syncora Can't Bring $404M MBS Claims

Law360, New York (February 21, 2012, 5:03 PM EST) -- An attorney for a JPMorgan Chase & Co. affiliate told a New York state judge Tuesday that federal litigation prevented bond insurer Syncora Guarantee Inc. from suing the bank over allegations that Syncora lost $404 million when it insured mortgage-backed securities.

Robert A. Sacks of Sullivan & Cromwell LLP, who represents JPMorgan, said during a hearing Tuesday that Syncora couldn't bring claims in state court because U.S. District Judge Paul A. Crotty had ruled that Syncora had waited too long to bring those claims in a...
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