JPMorgan Beats BofA in Fight Over $4 Billion CDO

, The Litigation Daily


In one of the few "bank-on-bank" cases arising from the financial crisis, JP Morgan Chase & Co. has emerged the winner in a $3 billion battle with Bank of America. Manhattan U.S. District Judge Alison Nathan issued summary judgment for Bear Stearns Asset Management Inc., which is owned by J.P. Morgan, in a dispute over an enormous failed collateralized debt obligation.

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