Updated: D Indian, briefly, WMI and WMI Investments had several cash deposit accounts within two (2) seperate banks, Washington Mutual Bank AND Washington Mutual Bank fsb. Both of these bank are now Chase.
If I remember correctly, there are at least 6 or 7 accounts within Chase WMI is claiming. Chase asserts that these deposits were sold to JP Morgan and/or were capital contributions in favor of Chase and not a deposit liability.
WMI filed the Complaint because they are entitled to the deposits and not on behalf of "other" customers. WMI is now considered a customer of Chase.
WMI only wanted the deposit. Chase forced WMI to file the Complaint and now WMI wants interest on top of the $4 plus Billion, in upwards of $200M. I assume WMI may be able to go for attorneys fees.
Hope that answers your questions.
The above is my opinion.
Market Data 
Markets 
AI
