JPMorgan says winter storm in Texas was not force majeure

By Michelle Casady (October 6, 2021, 7:51 p.m. EDT) – JPMorgan Chase Bank has told a Texas federal judge that the deadly winter storm that hit the state in February is not a force majeure event that would allow a park wind farm to successfully fight the payment of a $ 71 million bill.

The bank is in a dispute with the Canadian Breaks LLC wind farm, which for five days during the storm was unable to produce the amount of electricity guaranteed under a hedging contract it signed with JPMorgan. Canadian Breaks filed a lawsuit in state court in March seeking a court order that the winter storm that left millions of people without electricity in below freezing temperatures …

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