JPMorgan Can Have $112 Million CDO Case Heard in U.K. Court
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JPMorgan Chase & Co., the second-largest U.S. bank by assets, won a challenge at the European Union’s highest court to have a collateralized-debt obligation dispute over $112 million heard by U.K. courts.
Contractual disputes are mainly about a contract’s validity and don’t need to be heard in the country where the party challenging the validity of the deal is based, the EU Court of Justice in Luxembourg ruled today.