Law360, Dallas (August 12, 2015, 5:50 PM EDT) -- A Texas appellate court on Tuesday held JPMorgan Chase Bank NA can't ditch a $400 million fraud suit brought by Orca Assets GP LLC that claimed the bank leased it the same Eagle Ford oil and gas properties already leased by the bank to another party six months earlier.The Fifth Court of Appeals in Dallas said a trial judge had wrongly granted summary adjudication to the bank on fraud and negligent misrepresentation claims brought by Orca, saying there are unanswered questions about whether Orca was duped into signing a lease with JPMorgan. The bank was acting as trustee for the... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
JP Morgan must face a $400 million fraud suit which alleges the bank leased Orca Assets GP the same Eagle Ford oil and gas properties that were already leased to another party six months earlier; an appeals court refused to throw out the suit.