JP Morgan denies credit derivatives wrong doing

The investment banking arm of JP Morgan Chase, JP Morgan, last month refuted charges levelled in lawsuits by three hedge funds over credit default swaps it sold on Argentine sovereign debt.

Responding to suits filed by West Indies-based Eternity Global Fund, South Korea-based Daehan Global Bond Trust II and New York-based HBK Investments, the firm says it “fully complied with the plain language and spirit of the contractual terms of the governing agreements”.

A source close to HBK says the

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