2nd Circ. Nixes Suit Against JPMorgan Over WaMu Lease
By Dan Ivers
Law360, New York (February 5, 2014, 5:00 PM ET) -- The Second Circuit on Tuesday overturned a ruling that required JPMorgan Chase Bank NA to assume a lease for a New York space previously entered by Washington Mutual Inc., saying the owner of the property did not have authority to pursue a claim against the bank.
A New York federal district court had ruled in May 2012 that the terms of JPMorgan's 2008 purchase of WaMu, brokered by the Federal Deposit Insurance Corp., required it to fulfill the terms of WaMu's 10-year lease for the commercial...