JP Morgan Appeals $3.5M Transaction Fee Decision

Law360, New York (November 28, 2006, 12:00 AM EST) -- JP Morgan Securities Inc. is appealing a decision by a federal bankruptcy judge that nixed its bid for a $3.5 million transaction fee related to services it provided Spiegel Inc. before it emerged from bankruptcy in 2005.

JP Morgan’s appeal of U.S. Bankruptcy Judge Burton R. Lifland’s Oct. 19 ruling holding that JP Morgan wasn’t entitled to the transaction fee was filed on Oct. 26.

Spiegel retained JP Morgan to find a buyer for Spiegel’s troubled subsidiary and bank card issuer First Consumers National Bank on...
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