Chase's $425M Claim Against Auto Parts Mogul Reaffirmed

Law360, New York (September 13, 2017, 6:55 PM EDT) -- JPMorgan Chase came one step closer on Wednesday to recovering $425 million the bank says was improperly taken out of a trust by an auto parts magnate to avoid paying bankruptcy debts, as a Michigan federal court reaffirmed an earlier ruling labeling the move a fraudulent transfer. 

U.S. District Judge Avern Cohn denied Larry Winget’s motion to reconsider a July ruling that granted Chase judgment on its constructive fraudulent transfer claim relating to assets taken out of the trust. Chase had been pursuing a $425 million...
To view the full article, register now.