EFI Trustee Hits Bryan Cave With $100M Malpractice Suit

Law360, New York (May 4, 2011, 3:42 PM EDT) -- The bankruptcy trustee for Estate Financial Inc. filed a malpractice suit last Thursday in California against Bryan Cave LLP for allegedly encouraging the defunct lender to continue a criminal fraud that cost investors $100 million.

Despite knowledge that EFI’s business practices and securities offerings violated state and federal laws, Bryan Cave and restructuring ace Katherine Windler, counsel at the firm, advised the company to operate normally, turning a blind eye to a rampant fraud that in 2009 led to long prison sentences for EFI’s principals, according...
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