Paul Hastings Can't Escape $55M Malpractice Suit

Law360, New York (August 16, 2010, 4:52 PM EDT) -- Ableco Finance LLC's $55 million malpractice suit against Paul Hastings Janofsky & Walker LLP in connection with a loan to the purchaser of bankrupt Steve & Barry’s retail clothing chain can move forward, a New York court has ruled.

Judge Shirley Werner Kornreich of the Supreme Court of the State of New York, New York County, on Thursday denied the law firm's motion to dismiss, finding that the finance company had sufficiently alleged its malpractice claims against the firm.

Ableco's first amended complaint, filed in December,...
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