Squire Sanders Off Hook For Kaiser Malpractice Suit

Law360, New York (August 19, 2010, 4:15 PM EDT) -- Squire Sanders & Dempsey LLP has escaped a malpractice suit filed by Kaiser Group International Inc. alleging it failed to warn the bankrupt company that a particular class of creditors had the right to seize hundreds of thousands of shares of the reorganized entity.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Friday granted Squire Sanders’ motion to dismiss Kaiser’s adversary proceeding in its entirety as time-barred.

Prior to Kaiser’s bankruptcy filing, one of the company’s subsidiaries acquired ICT...
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