JPMorgan Sued by Lehman Over Derivatives Claims

JPMorgan Chase & Co. (JPM), which has been fighting defunct Lehman Brothers Holdings Inc. over about $6 billion of claims for payment, was sued by Lehman over $2.2 billion in derivatives obligations, according to a bankruptcy court filing in Manhattan.

Lehman is asking a judge to rule on the “overstated” demands by the bank, which was the main short-term lender to Lehman around the time of its 2008 collapse.

Previously, Lehman sued JPMorgan over $8.6 billion in collateral that it wants back. The latest suit was filed Sept. 14.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net

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