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NES Financial Corp. v. JPMorgan Chase Bank
Citations: 891 F. Supp. 2d 558; 2012 U.S. Dist. LEXIS 187657; 2012 WL 4093763Docket: No. 11 Civ. 3437 (VM)
Court: District Court, S.D. New York; September 13, 2012; Federal District Court
Two motions in limine were presented by NES Financial Corp. (NES) concerning trial procedures against JPMorgan Chase Bank, N.A. (JPMorgan). 1. **Identification of JPEX Clients**: NES sought to prevent JPMorgan from publicly naming specific clients of the JPMorgan Property Exchange (JPEX) during the trial. The Court found NES's request unduly burdensome, as NES had already put the transactions with these clients at issue by initiating the lawsuit. Thus, while JPMorgan must redact sensitive information like bank account numbers or tax records, it is not required to withhold client names. The motion was granted in part and denied in part. 2. **Duff & Phelps Report**: NES aimed to exclude evidence from an October 2011 valuation report prepared by Duff & Phelps for Northbrook Bank. The Court ruled the report inadmissible, categorizing it as hearsay since it contained out-of-court statements from unidentified individuals associated with NES management. The report could not be verified for accuracy or speaker authority, and therefore, did not meet the criteria for admissibility under Federal Rule of Evidence 801(d). Thus, this motion was granted. In summary, the Court partially granted and denied NES's motion regarding the identification of clients while fully granting the motion to exclude the Duff & Phelps report from trial.