JPMorgan Wins $22M From Insurer In WorldCom Spat

Law360, New York (October 30, 2009, 3:14 PM EDT) -- A New York judge has ruled that policies Twin City Fire Insurance Co. provided to JPMorgan Chase & Co. require the Hartford Financial Services Group Inc. unit to pay the banking giant nearly $22 million toward its roughly $2.3 billion in settlements with bondholders of defunct WorldCom Inc.

Justice Charles E. Ramos of the the Supreme Court of the State of New York granted JPMorgan's motion for summary judgment Thursday and awarded the company $16.9 million plus prejudgment interest worth more than $5 million.

JPMorgan had...
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