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 engaged in litigation 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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