Nature of interpleader probed in high-stakes family fight

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted November 17, 2021 10:14 AM

Caught in the crossfire of conflicting orders from state courts in Colorado and Illinois and arbitrators in New York during an epic family fight about $3.5 million in securities, JPMorgan Chase Bank filed a federal interpleader complaint in Chicago against seven claimants.All the requirements for statutory interpleader under 28 U.S.C. Sec. 1335(a) were satisfied (more than $500 was in dispute; at least two of the claimants had diverse citizenship; and the bank posted a bond). But there was a big complication involving the …

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