Law360, New York (May 05, 2011, 10:09 PM ET) -- The receiver for Medical Capital Holdings Inc. filed a malpractice suit Monday against San Francisco-based Sedgwick LLP requesting at least $200 million in damages for allegedly simultaneously representing the financing company and its affiliates with conflicting interests.
MCHI receiver Thomas Seaman accused Sedgwick of professional negligence and of aiding and abetting breaches of fiduciary duty by acting as legal counsel for both MCHI's wholly-owned subsidiary Medical Capital Corp. and various MCC-administered special purpose corporations that paid fees to MCC for its services.
"MCC's desire to generate...
Sedgwick Hit With $200M Malpractice Suit
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