As regulators seek to rein in the multitrillion-dollar repo market, lawyers for the post-bankruptcy estate of Lehman Brothers and JP Morgan are still battling in a crisis-era lawsuit over what Lehman claims was the bank’s “voracious” cash grab in the investment bank’s final days.

In a filing made late Wednesday with US District Court in New York, lawyers for Lehman and its creditors said JP Morgan used its "life-or-death leverage" as Lehman's primary clearing bank to force Lehman into handing over virtually all of its remaining liquidity to "create an $8.6 billion slush fund."