JPMorgan Chase & Co.'s banking unit is seeking more than $753 million from a fund overseen by Parkcentral Capital Management LP, a Texas private investment firm controlled by the family of the one-time presidential candidate Ross Perot.

In a lawsuit filed last week, JPMorgan Chase alleges that the fund, Parkcentral Global Hub Ltd., defaulted on an agreement related to certain derivatives contracts by failing to post $125.4 million of eligible collateral support as required Nov. 20.

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