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Dexia Group

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Judge revives Dexia lawsuit vs. JPMorgan over mortgage claims

A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.Citing a recent federal appeals court decision, U.S. District Judge Jed Rakoff in Manhattan said he had lacked jurisdiction when he threw out much of the lawsuit on April 2. That ruling dismissed claims for all but $5.7 million of the roughly $774 million of damages that Dexia sought.In his new ruling, the judge directed that the Dexia case be moved to the New York state court where it was originally filed.Dexia and JPMorgan representatives did not immediately respond to requests for comment.The lawsuit is one of many accusing banks of trying to boost profit by packaging low-quality mortgages into seemingly safe securities, while hiding the risks or failing to ensure that the loans were underwritten properly.Dexia alleged it was fraudulently misled about the quality of 65 residential mortgage-backed se...

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  1. Eurostat: Belgium, France Must Add Dexia Bailout to 2012 Budgets

    Belgium and France must include their latest bailout of troubled bank Dexia SA (DEXB.BT) in their budget deficit calculations, the European Union's statistics agency...

  2. Maybe AIG Got the Bailout It Had Coming

    So here we are, nearly five years after the financial crisis, listening to a cranky, old, former billionaire yammer about how his bailout wasn't as good as some of t...

  3. EU: Bank Bailouts Pose Risk for Belgium

    Large guarantees for rescued banks, principally Dexia SA (DEXB.BT) will continue to pose a risk for heavily-indebted Belgium, the European Commission said when issui...

  4. France Creates New Local Authority Financing Group

    The French government Wednesday signed off on the creation of a new bank to fill the funding gap for municipalities and hospitals left by the retreat of Franco-Belgi...

  5. Head of French Debt Agency to Lead New Municipalities Bank

    The head of French debt-issuing agency Agence France Tresor, Philippe Mills, will head a new municipal financing bank, French Finance Minister Pierre Moscovici said ...

  6. Dexia Sees Balance Sheet Shrinking to EUR150 Billion By End 2020

    Franco-Belgian bank Dexia SA (DEXB.BT) gave fresh details Monday of its European Union-backed plan for winding down the bank, warning that its upcoming earnings woul...

  7. ICBC, GCS to Work Together to Expand Dexia's Funds Arm in Asia

    Hong Kong-based private equity firm GCS Capital, which bought the asset management arm of troubled bank Dexia SA (DEXB.BT) earlier this month, said Thursday it plans...

  8. Belgium Will Set Out Law On Bankers' Pay By Summer 2013 - PM

    Belgium will set out new laws effectively ending bonuses for senior bankers by next summer as part of the lessons learned from the problems at lender Dexia SA (DEXB....

  9. France, Belgium Set €5.5 Billion Dexia Capital Boost

    France and Belgium agreed Thursday to inject €5.5 billion of fresh capital into bailed out lender Dexia S.A. (DEXB.BT), Belgian Finance Minister Steven Vanacker...

  10. Capital Surcharges Spelled Out for Big Banks

    The Financial Stability Board spelled out for the first time Thursday the amount of extra capital it would expect the world's largest banks to hold in respect of the...

  11. Mass Downgrade: S&P Frowns on Italian Banks

    Ratings agency Standard & Poor's on Friday downgraded a broad swath of Italian banks, citing worries that the recession in the euro zone's third-largest economy coul...

  12. France Welcomes Draghi Comments On Irreversibility Of Euro

    French Finance Minister Pierre Moscovici welcomed Thursday comments made earlier by European Central Bank President Mario Draghi which suggested the central bank may...

  1. EU: Belgium Headline Deficit "Remains High"

    Belgium will miss European Union deficit targets next year, as the economy stagnates in the early part of this year, the European Commission said Friday in its sprin...

  2. French Banks, State May Face EUR20 Billion Loss from Loans to Local Authorities - Report

    The French state and French banks could face a combined loss of as much as 20 billion euros ($26 billion) on loans to local authorities after a lower court ruled in ...

  3. Brave New World for Euro-Bank Bonds

    Euro-zone bank rescues have aimed to spare holders of senior bank bonds for fear of sparking a deeper crisis--at the cost of burdening taxpayers. But in Cyprus, poli...

  4. France's CDC Books EUR458 Million Loss for 2012

    France's state-owned financial institution Caisse des Depots et Consignations said Thursday it booked a loss for 2012, hurt by write-downs on its stakes in France Te...

  5. J.P. Morgan Wins Dismissal of Most of Dexia Lawsuit

    A judge has dismissed most of the claims brought by Dexia S.A. (DEXB.BT) in a lawsuit against J.P. Morgan Chase & Co. (JPM) in which the Belgian-French bank claimed ...

  6. JPMorgan wins dismissal of most Dexia mortgage claims

    JPMorgan Chase & Co has won the dismissal of much of a lawsuit accusing it of misleading the Belgian-French bank Dexia SA into buying more than $1.6 billion of troub...

  7. Eurostat Wants Dexia Bailout Added to 2012 Budgets

    Belgium and France must include their latest bailout of troubled bank Dexia SA (DEXB.BT) in their budget deficit calculations, the European Union's statistics agency...

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