JPMorgan fails to thwart Wells Fargo suit over Chetrit loan 
The lawsuit Wells Fargo leveled a year ago against JPMorgan Chase and Meyer Chetrit isn’t going away. On Monday, a federal judge declined JPMorgan’s motion to dismiss the breach of contract lawsuit, Reuters reported. The judge ruled that in Wells Fargo’s capacity as the trustee for investors it met the burden for its allegation that JPMorgan was aware of a default by the Chetrit Group on a $481 million commercial real estate loan. The judge’s decision clears the way for Wells Fargo to fight for JPMorgan to repurchase the loan or pay damages. JPMorgan did not immediately respond to a […]
This article originally appeared on The Real Deal. Click here to read the full story.
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