JPmorgan Chase & Co. v. Travelers Indemnity Co.

OPINION OF THE COURT

Abdus-Salaam, J.

In this declaratory judgment and breach of contract action, plaintiffs JPMorgan Chase & Co., JPMorgan Chase Bank and J.P Morgan Securities, Inc. (collectively JPMC) seek a declaration that defendant Twin City Fire Insurance Company (Twin City) is obligated to indemnify them in the amount of the limits of their coverage ($22.5 million) for losses incurred in connection with the defense and settlement of a series of federal court class action suits arising out of Enron’s financial collapse, as well as several lawsuits filed by Enron investors in state courts.…