JP Morgan Chase has won a ruling at a European Union court to have a collateralized-debt obligation dispute heard by U.K. courts, Bloomberg reports. The ruling relates to a dispute between JP Morgan and Berlin-based transportation provider, BVG, about whether a 2007 derivatives transaction should be heard in the U.K. or Germany.
As per the deal, JP Morgan was insured by BVG against default on debt tied to 150 companies. In 2008, New York-based JP Morgan enforced the agreement and is seeking $112 million from BVG.
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