11th Circ. Says Law Firm Liable For $10M Over Film Project

Law360, Los Angeles (October 22, 2013, 7:51 PM EDT) -- The Eleventh Circuit affirmed a lower court’s decision to hold the McCain Law Firm liable for $10 million a Saudi investor lost in a failed film project, saying Monday that the law firm hadn’t disclosed to its insurance company that it took the funds out of escrow.

The appellate panel found that the Georgia district court correctly ruled that Tyler McCain hadn’t properly informed Old Republic National Title Insurance Co. that he had converted $10 million in funds from Azimut Investments Ltd. into a loan to...
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