Blavatnik Award In JPMorgan Case Raised To $63M

Law360, New York (August 29, 2013, 7:37 PM ET) -- A New York state judge who last week ordered JPMorgan Chase & Co. to pay a Russian billionaire more than $50 million over claims the bank caused him to suffer serious losses due to unnecessary risks involving mortgage-backed securities has raised the award to at least $63 million, according to court filings and news reports.

In a court filing dated Tuesday, Judge Melvin L. Schweitzer raised the annual interest to be paid on JPMorgan's award to Access Industries Group owner Leonard Blavatnik from 5 percent to the statutory rate of 9 percent...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required