Paper Cos. Ask 7th Circ. To Nix $53M Ruling For JPMorgan

Law360, Chicago (November 1, 2011, 7:38 PM EDT) -- An attorney for three paper production companies asked the Seventh Circuit on Tuesday to nix an Illinois federal court's $53 million judgment against them in JPMorgan Chase Bank NA's suit over their alleged note defaults, saying a jury must hear their affirmative defenses.

At oral arguments, Thomas J. Ramsdell of Howard & Howard Attorneys PLLC said the federal court erred when it granted summary judgment to the bank after finding that affirmative defenses raised by Asia Pulp and Paper Co.Ltd., PT Indah Kiat Pulp and Paper...
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