In an interesting and somewhat complex story, JP Morgan Chase have gone to court to force their insurers to pay nearly $1bn to them in respect of claims made as a result of the bank's involvement with Enron.
The insurers, in essence, wish to evade liability and appear to be claiming that the deals concerned were not insured unders the policies as they were effectively loans from JP Morgan to Enron.
The Judge, Jed Rakoff, has indicated that he will rule as soon as possible, but there are complicated legal technicalities involved and he will not be rushed.
JP Morgan Delayed
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