Legal Malpractice

Morrison Cohen Legal Malpractice Case Continues

By (Andrew Lavoott Bluestone)

The $15 Million case by Mercantile Capital Partners Fund against Morrison Cohen has survived a motion to dismiss.  The decision  by Justice Ling-Cohan determines that the complaint is sufficient for now.  "The gravamen of this legal malpractice claim is that defendant's alleged failure to perfect plaintiff's security interest and subsequent failure of the credit bid deal caused plaintiff damages.  Plaintiffs allege that if the credit bid deal proceeded as intended, Dry Ice would have avoided liquidation and transformed sufficiently to generate enough profits to pay off its debts and generate income for plaintiff."

Full post as published by New York Attorney Malpractice Blog on March 21, 2008 (boomark / email).