End To $500M Chadbourne Malpractice Suit Affirmed

Law360, New York (June 25, 2010, 5:53 PM EDT) -- A New York state appeals court has ruled that a lower court was right to throw out a $500 million malpractice suit brought by an Austrian investment bank against Chadbourne & Parke LLP over legal advice the firm gave regarding the formation of an investment vehicle in Russia.

A three-judge panel in the New York State Supreme Court, First Appellate Division, ruled Thursday that allegations by Creditanstalt Investment Bank AG were “too speculative to support a legal malpractice claim.”

“We're pleased and grateful that the appeals...
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