JPMorgan, Defunct Firm Get More Time To Settle $55M Fight

Law360, London (October 30, 2019, 4:13 PM GMT) -- A JPMorgan subsidiary and an insolvent bank sued by a defunct investment company once controlled by a Saudi billionaire’s conglomerate were given more time to settle a dispute over the ownership of at least $55 million in assets pledged as loan security, according to a London court.

An order issued by the High Court indicates that all sides agreed to extend to Jan. 24 a previously approved pause on the litigation that was set to conclude this month.

"The claim, shall be stayed ... to enable the parties to attempt settlement,” states the Oct. 21 consent order from the judge, Master...

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