JP Morgan Chase sues over Enron-related losses

Investment bank JPMorgan Chase is still seeking to recover its estimated $2.1 billion of Enron-related losses and has initiated litigation against several major insurance firms seeking payment under Enron-related surety bonds. The surety contracts were issued by the insurance companies to guarantee obligations of Enron North America Corp and Enron Natural Gas Marketing Corp under prepaid forward natural gas and crude oil contracts.

At issue in the case is around $1.1 billion, of which JPMorgan

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