1153

This case concerns negligent conduct by Bank One, N.A. (“Bank One”) and JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) as asset-backed indenture trustees (the “indenture trustees” or “asset-backed indenture trustees”) for certain special-purpose subsidiaries (“program” or “programs”) of National Century Financial Enterprises, Inc. (“NCFE”), formerly a Dublin, Ohio healthcare financing company, during the approximate period 1999-2002 (the “relevant period”). 6. During the relevant period, the NCFE programs offered and sold nearly $3.5 billion in asset-backed notes to qualified institutional buyers. NCFE and the programs collapsed in November 2002 when investors and others discovered that NCFE h...View all