JPMorgan Sued Over $180M Liquidation Of Bear-Held Assets

Law360, New York (May 30, 2012, 4:06 PM EDT) -- A Cayman Islands investment firm on Tuesday accused JPMorgan Chase Bank NA of wrongly liquidating $180 million in assets formerly held by Bear Stearns Cos. Inc. to pay down the firm's debt under a $2.8 billion credit facility, challenging the bank's reasoning that its merger with Bear Stearns gave it control of the funds.

Saad Investments Co. Ltd. and three individuals appointed in 2009 to unwind the investment firm filed suit against JPMorgan in New York state court Tuesday. The suit alleges JPMorgan and five affiliates...
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