Chase Sues Over $7.9B In Disputed WaMu Assets

By Christie Smythe

Law360, New York (March 25, 2009, 12:00 AM ET) -- JPMorgan Chase Bank NA has filed a lawsuit seeking to stake its claim to at least $7.9 billion dollars in disputed Washington Mutual Inc. assets it claims it was sold in an emergency deal brokered in 2008 by the Federal Deposit Insurance Corp. but which the successors to the failed thrift argue should belong to the bankruptcy estate.

Chase filed an adversary suit Tuesday in the U.S. Bankruptcy Court for the District of Delaware seeking a declaration that it is the rightful owner of the disputed...
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