Cadwalader Botched $68M Loan Appraisal, Appeals Court Told

Law360, New York (March 13, 2013, 6:13 PM EDT) -- Cadwalader Wickersham & Taft LLP cost Nomura Asset Capital Corp. $67.5 million by not telling it what type of tax appraisal to get on a securitized hospital loan, Nomura's attorney said Wednesday in urging a New York state appeals court to uphold a lower court’s ruling that allowed the case to proceed to trial.

Nomura's Amianna Stovall of Constantine Cannon LLP said during a hearing that Cadwalader was supposed to help Nomura evaluate appraisals of loans being securitized to make sure they conformed with a type...
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