Ex-Troutman Atty Loses Appeal Over $120M In Merger Funding

By David McAfee (April 2, 2013, 9:27 PM EDT) -- A New York state appellate court on Tuesday affirmed a lower court's ruling against a former Troutman Sanders LLP attorney and his business partner who insisted that real estate mogul Rubin Schron never funded $120 million in loans for a deal to buy a nursing home operator, saying the defendants' contentions were "unavailing."

The decision comes seven months after Judge O. Peter Sherwood chucked aside arguments made by former Troutman Sanders attorney Leonard Grunstein and business partner Murray Forman that Schron never funded a $100 million loan, and a later refinancing that added another $20 million, that were part of a billion-dollar...

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