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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...
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Case Information

Case Title

JPMorgan Chase Bank, N.A. v. Winget et al


Case Number

2:08-cv-13845

Court

Michigan Eastern

Nature of Suit

Contract: Other

Judge

Avern Cohn

Date Filed

September 8, 2008

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