Ala. County To Probe JPMorgan Deal With Astros Owner

Law360, New York (January 19, 2012, 8:20 PM EST) -- Jefferson County, Ala., on Wednesday won a federal bankruptcy judge's approval to investigate a settlement reached last week between J.P. Morgan Chase & Co. and Houston Astros owner Jim Crane, who invested heavily in defaulted county bonds underwritten by the bank.

The ruling by U.S. Bankruptcy Judge Thomas B. Bennett allows the county access to sworn testimony and other documents that led to the confidential Jan. 12 settlement in Texas state court between JPMorgan and Crane. The trove of documents could help the county negotiate its own claims against the bank...
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