Losses & Lawsuits


JP Morgan

A group of institutional investors that purchased more than $2.7 billion of asset-backed securities issued by defunct National Century Financial Enterprises (NCFE), have filed lawsuits against JP Morgan and Bank One – both of whom served as indenture trustees for special purpose vehicles associated with the failed healthcare financer. Nine lawsuits filed against the banks – mostly in 2004 – have been consolidated in the Northern District of Ohio.

National Century Financial Enterpris