Fla. Law Firm Hit With Negligence Suit Over $30M Loan

Law360, New York (May 5, 2010, 5:02 PM EDT) -- A real estate firm has lodged a breach of contract suit against Fieldstone Lester Shear & Denberg LLP, accusing the Coral Gables, Fla.-based real estate law firm of misconduct in representing a now-bankrupt borrower in its quest to secure a $30 million loan.

Philadelphia-based RAIT Partnership LP's operative complaint, lodged Tuesday in the U.S. District Court for the Southern District of Florida, claims the nine-attorney law firm was negligent in failing to complete its contractual obligations as its client, Bray & Gillespie Delaware I LP, secured...
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