Loan Co. Sues Seyfarth Alleging $1M Legal Screwup

Law360, New York (February 17, 2010, 5:41 PM EST) -- Commercial loan servicing company Amresco Commercial Finance LLC has filed a legal malpractice suit against Seyfarth Shaw LLP and one of its partners, claiming that legal work connected to Amresco's attempts to recoup losses on two defaulted loans was “screwed up,” causing losses of at least $1.3 million.

In a complaint filed Tuesday in the U.S. District Court for the District of Idaho, Amresco claims that Seyfarth Shaw and the partner, David M. Wiseblood, have admitted to the negligence alleged in the complaint, and apologized, but...
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