Arnstein & Lehr Hit With $5M Suit Over Bad Ch. 11 Advice

Law360, Miami (April 2, 2013, 6:12 PM EDT) -- A group of Miami-based luxury watch brand owners on Friday filed a $5 million malpractice suit against former counsel Arnstein & Lehr LLP, claiming the bad advice they received both before and during Chapter 11 bankruptcy proceedings forced a liquidation of the companies' assets.

In a suit filed in Florida state court, the three entities that had owned the "Lucien Piccard" watch brand accused the law firm of failing to advise them on how to avoid bankruptcy, and once in bankruptcy, failed to explain how they...
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