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Article: United states : FDIC seeks $3.7 bln at center of WaMu-JPMorgan fight.
- Article from:
- TendersInfo
- Article date:
- November 7, 2009
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Byline: babalu03
The Federal Deposit Insurance Corp asked a court for control over $3.7 billion claimed by both bankrupt holding company Washington Mutual Inc and JPMorgan Chase & Co (JPM.N), according to court documents.
The government agency was appointed receiver last year for Washington Mutual's lending operations, which were seized by regulators at the height of the financial panic. The FDIC sold the bank business to JPMorgan Chase Bank for $1.9 billion.
Washington Mutual WMPDC.UL has asked a bankruptcy court to force JPMorgan to return $4 billion, which is the amount it had on deposit with one of its banks plus accrued interest. JPMorgan ...