JPMorgan Can’t Ditch Lease, Owner Tells 2nd Circ.

Law360, New York (June 13, 2013, 7:45 PM EDT) -- JPMorgan Chase Bank NA should not be able to back out of a bank lease predecessor Washington Mutual Inc. entered, a New York real estate owner told the Second Circuit Thursday, defending its win in a suit against the bank.

A lawyer for property owner Hillside Metro Associates LLC argued that JPMorgan and the Federal Deposit Insurance Corp., which was WaMu’s receiver, are not allowed to unilaterally back out of a lease for bank space in Queens, N.Y.

WaMu’s sale to JPMorgan, brokered by the FDIC...
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