JPMorgan, FDIC Clash Over WaMu Liabilities

, The Litigation Daily


Figuring out who has to pay for what is not an easy call. U.S. District Judge Rosemary Collyer in 2011 ruled it was premature to dismiss either JPMorgan or the FDIC from the Deutsche Bank suit.

The case is now in discovery, with experts focused specifically on the meaning of the purchase agreement. "One of the basic questions," Collyer wrote, is whether the bank's purchase and assumption agreement "left these alleged liabilities with the FDIC or transferred them" to JPMorgan.

Jenna Greene writes for American Lawyer affiliates The National Law Journal and Legal Times.

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