NEW YORK (Reuters) - JPMorgan Chase & Co has asked a U.S. bankruptcy judge to deny the request from a group of Lehman Brothers Holdings Inc creditors seeking permission to conduct depositions and access JPMorgan documents, according to court filings.
A group of unsecured creditors had requested the information, claiming that JPMorgan refused to let Lehman access assets and instead froze Lehman's account, triggering a liquidity crisis that led to the 158-year-old investment bank's collapse.
But JPMorgan objected in a court filing on Monday saying that "the identity and amount of securities being held for liquidation by JPMorgan Chase is extremely confidential market-sensitive information" and asked that the motion be denied, but that the creditors could refile their request in the future.
JPMorgan said the company has been actively involved in the process of helping Lehman unwind, and suggested that the creditors could seek some of the documents they are requesting from Lehman itself.
In a separate document, Lehman Brothers Holdings asked the request be delayed until the court holds a status conference, saying that a comprehensive process needs to be developed "for the most efficient and expedient investigation of the debtor's acts." Lehman said its restructuring firm, Alvarez & Marsal, was already looking into its pre-bankruptcy activities and that the firm expects it will have to respond to several ongoing state and federal investigations requesting similar information.
Lehman filed for Chapter 11 bankruptcy protection from creditors September 15, in the largest U.S. bankruptcy filing ever.
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JPMorgan has played a key role in the case, as the firm regularly advanced billions to Lehman units to help clear and facilitate securities transactions with customers and clients of Lehman.
(Reporting by Chelsea Emery and Emily Chasan; Editing by Tim Dobbyn)
