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This case was last updated from PACER on 06/15/2021 at 15:50:02 (UTC).

Buckthorn Wind Project, LLC v. JPMorgan Chase Bank, NA

Case Summary

On April 16, 2021, Buckthorn Wind Project, LLC (“Plaintiff” or “Buckthorn”), represented by Kate Kaufmann Shih of Quinn Emanuel Urquhart & Sullivan LLP, filed a civil action complaint against JPMorgan Chase Bank, N.A. (“Defendant” or “JPMorgan”), seeking declaratory relief along with damages for alleged breach of contract by the Defendant. This case was filed in the U.S. District Court for the Northern District of Texas with Judge Mark Pittman presiding. 

 

In its complaint, the Plaintiff alleged that “Buckthorn owns a wind farm located approximately 60 miles southwest of Dallas, and sells all of the electricity generated by that wind farm into Texas’s wholesale electricity market. To protect against price volatility in that market, Buckthorn is party to an Energy Hedge Agreement with JPMorgan. Under the Energy Hedge Agreement, each party owes certain financial obligations to the other. These obligations “settle” on a monthly basis. The Energy Hedge Agreement gives JPMorgan the responsibility of performing, in good faith and in a commercially reasonable manner, the required settlement calculations. JPMorgan has breached this duty by ignoring an unambiguous price term in the Energy Hedge Agreement, applying another that is significantly more favorable to JPMorgan, and causing the parties to settle for a period of months at that incorrect price term until Buckthorn discovered the error in February 2021.” 

 

The Plaintiff further alleged that “Accordingly, in February 2021, the error in JPMorgan’s settlement calculation method became starkly evident. Buckthorn promptly raised the issue with JPMorgan. Notwithstanding the plain and unambiguous language of the Energy Hedge Agreement, however, JPMorgan has refused to correct the error in its settlement calculations, instead insisting that the parties should settle with reference to the Settlement Point Price. On March 15, 2021, JPMorgan invoiced Buckthorn $28,069,936.67 for the February 2021 settlement (the “February 2021 Invoices”), a settlement premised on the Settlement Point Price. For context, this one-month settlement under the Energy Hedge Agreement is almost triple the amount of Buckthorn’s projected annual revenues.”

 

The Plaintiff also alleged that “On March 22, 2021, Buckthorn paid JPMorgan $10,843,503.41 on the February 2021 Invoices, deriving from settlement with reference to Locational Marginal Price at the Hub, as the Energy Hedge Agreement requires.  Buckthorn also undertook a review of invoices from the prior twelve calendar months and determined that these had likewise improperly been settled with reference to the Settlement Point Price. In the course of this review, Buckthorn also discovered another error, albeit one with a much smaller impact. The Energy Hedge Agreement provides that settlements must also be made with reference to a “Realized Price,” based upon “[t]he nodal price at the Interconnection Point for each Hour.” In violation of this requirement, JPMorgan calculated settlements for the prior twelve calendar months with reference to a Realized Price at 15-minute intervals. 

 

There are two claims for relief laid down by the Plaintiff. The first claim is for declaratory judgment and the second claim is for alleged breach of contract.

 

In its prayer for relief, the Plaintiff has requested the Court to declare that the Plaintiff is not required to pay the disputed amount, and is entitled to recover from Defendant, such amount being comprised of all other overcharges for the months April 2020-January 2021 attributable to the improper settlement at the Settlement Point Price; award the money damages, court costs and attorneys’ fees; and award all other relief to which Plaintiff is entitled.

 

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    4:21-CV-00562

  • Filing Date:

    04/16/2021

  • Case Status:

    Pending - Other Pending

  • Case Type:

    Contract - Other Contract

  • Court:

    U.S. District Courts

  • Courthouse:

    Texas Northern District

Judge Details

Presiding Judge

Mark Pittman

 

Party Details

Plaintiff and Counter Defendant

Buckthorn Wind Project, LLC

Defendants and Counter Claimants

JPMorgan Chase Bank, NA

JPMorgan Chase Bank NA

Not Classified By Court

ADR Provider

Attorney/Law Firm Details

Plaintiff and Counter Defendant Attorneys

Kate Kaufmann Shih

Attorney at Quinn Emanuel Urquhart & Sullivan LLP

711 Louisiana, Suite 500

Houston, TX 77002

Karl Scherrak Stern

Attorney at Quinn Emanuel Urquhart & Sullivan

711 Louisiana Street, Suite 500

Houston, TX 77002

William Bennett Thompson

Attorney at Burns Charest LLP

900 Jackson Street, Suite 500

Dallas, TX 75202

Defendant and Counter Claimant Attorneys

Alvin Lee

1185 Avenue Of The Americas, 34Th Floor

New York, NY 10036-2601

Richard T Marooney

Attorney at King & Spalding LLP

1185 Avenue Of The Americas, 34Th Floor

New York, NY 10036-2601

Matthew Bush

1185 Avenue Of The Americas, 34Th Floor

New York, NY 10036-2601

Roland K Johnson

Attorney at Harris Finley & Bogle

777 Main St, Suite 1800

Fort Worth, TX 76102-5341

Craig Stanfield

Attorney at King & Spalding LLP

1100 Louisiana Street, Suite 4000

Houston, TX 77002

Not Classified By Court Attorney

Robert C Grable

Attorney at Kelly Hart & Hallman

201 Main St, Suite 2500

Fort Worth, TX 76102-3194

 

Court Documents

#25

(#25) ANSWER to Counterclaim filed by Buckthorn Wind Project, LLC. Related document: #22 Answer to Complaint,,,, Counterclaim,,, Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice. (Shih, Kate) (Entered: 06/14/2021)

#24

(#24) SCHEDULING ORDER: This case is set for trial on this Court's four-week docket beginning 3/21/202 in US Courthouse, Courtroom 4th Floor, 501 W. 10th St. Fort Worth, TX 76102-3673 before Judge Mark Pittman. Joinder of Parties due by 8/13/2021. Amended Pleadings due by 8/13/2021. Deadline for mediation is on or before 9/22/2021. Discovery due by 10/22/2021. Motions due by 11/22/2021. Pretrial Materials/Order due by 2/24/2022. (Ordered by Judge Mark Pittman on 6/14/2021) (tln) (Entered: 06/14/2021)

#23

(#23) Proposal for contents of scheduling and discovery order (Joint Report) by Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 06/09/2021)

#22

(#22) ANSWER to #1 Complaint,,,, filed by JPMorgan Chase Bank NA. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms and Instructions found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice., COUNTERCLAIM against Buckthorn Wind Project, LLC filed by JPMorgan Chase Bank NA (Lee, Alvin) (Entered: 05/24/2021)

#20

(#20) ORDER REQUIRING SCHEDULING CONFERENCE AND REPORT FOR CONTENTS OF SCHEDULING ORDER: The Joint Report shall be filed on or before June 9, 2021. (Ordered by Judge Mark Pittman on 5/19/2021) (mmw) (Entered: 05/19/2021)

19 #2

Proposed Order

19 #1

Certificate of Good Standing

#19

(#19) Application for Admission Pro Hac Vice with Certificate of Good Standing (Filing fee $100; Receipt number 0539-11907260) filed by JPMorgan Chase Bank NA (Attachments: #1 Certificate of Good Standing, #2 Proposed Order) (Bush, Matthew) (Entered: 05/19/2021)

#16

(#16) Application for Admission Pro Hac Vice with Certificate of Good Standing (Filing fee $100; Receipt number 0539-11873873) filed by JPMorgan Chase Bank, N.A. (Attachments: #1 Certificate of Good Standing, #2 Proposed Order) (Marooney, Richard) (Entered: 05/07/2021)

#7

(#7) ORDER DENYING PLAINTIFF'S REQUEST UNDER LOCAL RULE 83.10(a) TO PROCEED WITHOUT LOCAL COUNSEL: The Court, having considered Plaintiff's Request Under Local Rule 83.10 to Proceed without Local Counsel (Dkt. No #4 ), is of the opinion that the same should be DENIED. Local Counsel shall enter a Notice of Appearance no later than May 3, 2021. (Ordered by Judge Mark Pittman on 4/19/2021) (mmw) (Entered: 04/19/2021)

#6

(#6) Summons Issued as to JPMorgan Chase Bank, N.A. (mmw) (Entered: 04/19/2021)

#5

(#5) New Case Notes: A filing fee has been paid. File to: Judge Pittman. Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge. Clerk to provide copy to plaintiff if not received electronically. Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice. (mmw) (Entered: 04/19/2021)

4 #1

Proposed Order

#4

(#7) ORDER DENYING PLAINTIFF'S REQUEST UNDER LOCAL RULE 83.10(a) TO PROCEED WITHOUT LOCAL COUNSEL: The Court, having considered Plaintiff's Request Under Local Rule 83.10 to Proceed without Local Counsel (Dkt. No #4 ), is of the opinion that the same should be DENIED. Local Counsel shall enter a Notice of Appearance no later than May 3, 2021. (Ordered by Judge Mark Pittman on 4/19/2021) (mmw) (Entered: 04/19/2021)

#3

(#3) CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by Buckthorn Wind Project, LLC identifying Corporate Parent/Other Affiliate Capital Power Corporation for Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 04/16/2021)

#2

(#2) ADDITIONAL ATTACHMENTS to #1 Complaint,,,, by Plaintiff Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 04/16/2021)

1 #1

Cover Sheet with Supplement

#1

(#22) ANSWER to #1 Complaint,,,, filed by JPMorgan Chase Bank NA. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms and Instructions found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice., COUNTERCLAIM against Buckthorn Wind Project, LLC filed by JPMorgan Chase Bank NA (Lee, Alvin) (Entered: 05/24/2021)

27 More Documents Available
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Docket Entries

  • 06/14/2021
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  • Docket(#25) ANSWER to Counterclaim filed by Buckthorn Wind Project, LLC. Related document: #22 Answer to Complaint,,,, Counterclaim,,, Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice. (Shih, Kate) (Entered: 06/14/2021)

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  • 06/14/2021
  • View Court Documents
  • Docket(#24) SCHEDULING ORDER: This case is set for trial on this Court's four-week docket beginning 3/21/202 in US Courthouse, Courtroom 4th Floor, 501 W. 10th St. Fort Worth, TX 76102-3673 before Judge Mark Pittman. Joinder of Parties due by 8/13/2021. Amended Pleadings due by 8/13/2021. Deadline for mediation is on or before 9/22/2021. Discovery due by 10/22/2021. Motions due by 11/22/2021. Pretrial Materials/Order due by 2/24/2022. (Ordered by Judge Mark Pittman on 6/14/2021) (tln) (Entered: 06/14/2021)

    Read MoreRead Less
  • 06/09/2021
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  • Docket(#23) Proposal for contents of scheduling and discovery order (Joint Report) by Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 06/09/2021)

    Read MoreRead Less
  • 05/24/2021
  • View Court Documents
  • Docket(#22) ANSWER to #1 Complaint,,,, filed by JPMorgan Chase Bank NA. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms and Instructions found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice., COUNTERCLAIM against Buckthorn Wind Project, LLC filed by JPMorgan Chase Bank NA (Lee, Alvin) (Entered: 05/24/2021)

    Read MoreRead Less
  • 05/21/2021
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  • Docket(#21) ELECTRONIC ORDER granting #19 Application for Admission Pro Hac Vice of Matthew Bush. Important Reminder: Unless excused for cause, an attorney who is not an ECF user must register within 14 days of the date the attorney appears in a case pursuant to LR 5.1(f) and LCrR 49.2(g). (Ordered by Judge Mark Pittman on 5/21/2021) (chmb)(lcspb) (Entered: 05/21/2021)

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  • 05/19/2021
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  • Docket(#20) ORDER REQUIRING SCHEDULING CONFERENCE AND REPORT FOR CONTENTS OF SCHEDULING ORDER: The Joint Report shall be filed on or before June 9, 2021. (Ordered by Judge Mark Pittman on 5/19/2021) (mmw) (Entered: 05/19/2021)

    Read MoreRead Less
  • 05/19/2021
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  • Docket(#19) Application for Admission Pro Hac Vice with Certificate of Good Standing (Filing fee $100; Receipt number 0539-11907260) filed by JPMorgan Chase Bank NA (Attachments: #1 Certificate of Good Standing, #2 Proposed Order) (Bush, Matthew) (Entered: 05/19/2021)

    Read MoreRead Less
  • 05/13/2021
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  • Docket(#18) ELECTRONIC ORDER granting #16 Application for Admission Pro Hac Vice of Richard T. Marooney. Important Reminder: Unless excused for cause, an attorney who is not an ECF user must register within 14 days of the date the attorney appears in a case pursuant to LR 5.1(f) and LCrR 49.2(g). (Ordered by Judge Mark Pittman on 5/13/2021) (chmb)(lcspb) (Entered: 05/13/2021)

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  • 05/13/2021
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  • Docket(#17) ELECTRONIC ORDER granting #14 Application for Admission Pro Hac Vice of Alvin Lee. Important Reminder: Unless excused for cause, an attorney who is not an ECF user must register within 14 days of the date the attorney appears in a case pursuant to LR 5.1(f) and LCrR 49.2(g). (Ordered by Judge Mark Pittman on 5/13/2021) (chmb)(lcspb) (Entered: 05/13/2021)

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  • 05/07/2021
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  • Docket(#16) Application for Admission Pro Hac Vice with Certificate of Good Standing (Filing fee $100; Receipt number 0539-11873873) filed by JPMorgan Chase Bank, N.A. (Attachments: #1 Certificate of Good Standing, #2 Proposed Order) (Marooney, Richard) (Entered: 05/07/2021)

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5 More Docket Entries
  • 05/03/2021
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  • Docket(#10) NOTICE of Attorney Appearance by Craig Stanfield on behalf of JPMorgan Chase Bank, N.A.. (Filer confirms contact info in ECF is current.) (Stanfield, Craig) (Entered: 05/03/2021)

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  • 04/30/2021
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  • Docket(#9) NOTICE of Attorney Appearance by William Bennett Thompson on behalf of Buckthorn Wind Project, LLC. (Filer confirms contact info in ECF is current.) (Thompson, William) (Entered: 04/30/2021)

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  • 04/19/2021
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  • Docket(#8) SUMMONS Returned Executed as to JPMorgan Chase Bank, N.A. ; served on 4/19/2021. (Shih, Kate) (Entered: 04/19/2021)

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  • 04/19/2021
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  • Docket(#7) ORDER DENYING PLAINTIFF'S REQUEST UNDER LOCAL RULE 83.10(a) TO PROCEED WITHOUT LOCAL COUNSEL: The Court, having considered Plaintiff's Request Under Local Rule 83.10 to Proceed without Local Counsel (Dkt. No #4 ), is of the opinion that the same should be DENIED. Local Counsel shall enter a Notice of Appearance no later than May 3, 2021. (Ordered by Judge Mark Pittman on 4/19/2021) (mmw) (Entered: 04/19/2021)

    Read MoreRead Less
  • 04/19/2021
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  • Docket(#6) Summons Issued as to JPMorgan Chase Bank, N.A. (mmw) (Entered: 04/19/2021)

    Read MoreRead Less
  • 04/16/2021
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  • Docket(#5) New Case Notes: A filing fee has been paid. File to: Judge Pittman. Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge. Clerk to provide copy to plaintiff if not received electronically. Attorneys are further reminded that, if necessary, they must comply with Local Rule 83.10(a) within 14 days or risk the possible dismissal of this case without prejudice or without further notice. (mmw) (Entered: 04/19/2021)

    Read MoreRead Less
  • 04/16/2021
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  • Docket(#4) MOTION Request Under Local Rule 83.10(a) to Proceed Without Local Counsel filed by Buckthorn Wind Project, LLC (Attachments: #1 Proposed Order) (Shih, Kate) (Entered: 04/16/2021)

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  • 04/16/2021
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  • Docket(#3) CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by Buckthorn Wind Project, LLC identifying Corporate Parent/Other Affiliate Capital Power Corporation for Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 04/16/2021)

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  • 04/16/2021
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  • Docket(#2) ADDITIONAL ATTACHMENTS to #1 Complaint,,,, by Plaintiff Buckthorn Wind Project, LLC. (Shih, Kate) (Entered: 04/16/2021)

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  • 04/16/2021
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  • Docket(#1) COMPLAINT against All Defendants filed by Buckthorn Wind Project, LLC. (Filing fee $402; Receipt number 0539-11808466) Clerk to issue summons(es). In each Notice of Electronic Filing, the judge assignment is indicated, and a link to the # Judges Copy Requirements and # Judge Specific Requirements is provided. The court reminds the filer that any required copy of this and future documents must be delivered to the judge, in the manner prescribed, within three business days of filing. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms, instructions, and exemption information may be found at www.txnd.uscourts.gov, or by clicking here: # Attorney Information - Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. (Attachments: #1 Cover Sheet with Supplement) (Shih, Kate) (Entered: 04/16/2021)

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