Judge okays Whale case

City A.M. Reporter
A BANKRUPTCY judge yesterday gave creditors of Lehman Brothers the green light to subpoena former JP Morgan Chase trader Bruno Iksil, the so-called “London Whale,” in an $8.6bn (£5.76bn) lawsuit against the bank, a Lehman spokeswoman said.

The judge rejected arguments Iksil had little to do with the allegations in the lawsuit about JP’s role as Lehman’s main clearing bank.

“It is readily apparent that the only real reason for the plaintiffs’ interest in taking Mr. Iksil’s deposition is that he has been in the news,” JP Morgan said.