With $10 billion and its honor at stake, it’s no wonder that JPMorgan Chase and its lawyers at Sullivan & Cromwell are scratching and clawing in the litigation over JPMorgan’s fire-sale acquisition of Washington Mutual last fall. (As we’ve previously reported, WaMu’s bankrupt parent company has accused JPMorgan of engineering a scheme to undermine the savings bank’s assets in order to buy it on the cheap, as well as alleging that JPMorgan misappropriated $4 billion in WaMu deposits.)
But a filing last week in Delaware federal bankruptcy court, in which JPMorgan seeks to compel members of an unofficial group of noteholders to identify themselves (pdf), has other folks in the litigation scratching their heads.
