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WaMu Sues JPMorgan For Return Of $4B In Deposits

Law360 (April 28, 2009, 12:00 AM EDT) -- Bankrupt savings and loan Washington Mutual Inc. has fired back at JPMorgan Chase & Co. with its own lawsuit in a dispute over control of more than $4 billion in demand deposits currently being held by JPMorgan Chase.

In a lawsuit filed in the U.S. Bankruptcy Court for the District of Delaware Monday, Washington Mutual claimed that JPMorgan Chase has no ground for withholding the more than $4 billion in demand deposits, which are the cash reserves of the savings and loan. JPMorgan Chase had earlier...
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