Mayer Brown isn’t liable for a paralegal’s error that canceled a security interest in a $1.5 billion loan to General Motors because the law firm didn’t represent the lenders, according to a federal appeals court.
Mayer Brown had represented General Motors, rather than the consortium of lenders whose security interest was accidentally terminated in 2006, according to the opinion by the Chicago-based 7th U.S. Circuit Court of Appeals.
To read the complete article from the ABA Journal
Click Mayer Brown not Liable for $1.5B Error