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Litigation News

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JPMorgan Chase has agreed to pay USD 1.42 billion to settle most of the litigation relating to the bankruptcy of Lehman Brothers, according to court documents.
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The already over-burdened judiciary has been aided by the alternate dispute redressal mechanism of Lok Adalats which have decided 8.25 crore pre- litigation and pending cases in over 15.14 sittings in the last two decades, senior Supreme Court judge T S Thakur said on Monday.
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The initiative has been taken by ministry as a part of National litigation Policy.
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Former US Treasury Secretary Timothy Geithner testified Tuesday that if insurer AIG had been allowed to fail in 2008, the impact would have been an economic catastrophe.






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