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US court says JPMorgan must live with US$1.5b paperwork error
Published Thu, Jan 22, 2015 · 09:50 PM
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New York
JPMORGAN Chase & Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost US$1.5 billion.
A federal appeals court in Manhattan ruled on Wednesday that, although it was not JPMorgan's intention, it clearly authorised its law firm to file papers in 2008 that unsecured much of a loan to General Motors.
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