U.S. District Court Must Decide Lehman Claims, JPMorgan Says
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JPMorgan Chase & Co., sued for $8.6 billion by bankrupt Lehman Brothers Holdings Inc., said the defunct firm’s common law claims against it must be decided by a U.S. district court judge rather than a bankruptcy judge.
In a court filing yesterday in Manhattan, the New York-based bank said the U.S. Supreme Court ruling in the Anna Nicole Smith case limited the power of bankruptcy judges to rule on such claims.