There is interesting news out today (see News Articles and the links below) concerning Greenberg Traurig’s role in the Heller Ehrman dissolution last year.
Basically: Greenberg should have run a UCC search when they signed Heller on as a client and should have discovered that Bank of America had cancelled its security interest in the Heller line of credit. This seems to be a standard practice of most firms in taking on a new client or pursuing a new matter.
It was not until the attorneys for one of Heller Ehrman’s landlords discovered the UCC issue.
So now, not only does Greenberg Traurig seem ripe for a malpractice suit from either the Unsecured Creditors Committee and/or other parties, but should someone be going after any errors and omissions insurance carried by Heller?
Lawyers Beware, Malpractice-Allegation Week is Here! – WSJ Law Blog
Greenberg Traurig Faces Investigation Over Heller Ehrman Representation – The AmLaw Daily
Greenberg Traurig Faces Malpractice Questions in Heller Representation – The ABA Journal
The Morning Wrap – The BLT: The Blog of the Legal Times
Greenberg Traurig in Hot Water Over Representation of Heller – The Recorder via Law.com