Judge Allows Wells Fargo Contract Suit Against JPMorgan over Troubled $481 Million CRE Loan to Proceed
A federal judge in Manhattan declined JPMorgan Chase's motion to dismiss a breach of contract case brought by Wells Fargo, acting as trustee for investors in a defaulted $481 million commercial real estate loan. The suit alleges JPMorgan was aware of an event of default by Chetrit Group after the borrower reported an overstatement of historical net…