Lehman, Creditors Rip JPMorgan Funds' 'Absurd' $80M Claims

Law360, New York (January 23, 2012, 7:53 PM EST) -- Lehman Brothers Holdings Inc. and its official committee of unsecured creditors on Monday blasted as “absurd” JPMorgan Chase Bank NA affiliates' assertion that the bankrupt investment bank owes about $80 million to their customers.

In a reply brief filed in New York bankruptcy court, Lehman Brothers and the unsecured creditors reject out of hand JPMorgan's asset management funds' attempt to recover money for their customers, saying doing so would lead to an absurd result since the funds do not count as affiliates or subsidiaries of JPMorgan....
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