Quarles & Brady Owes $16M Over Loan Advice, Lender Says

Law360, New York (August 30, 2017, 6:43 PM EDT) -- A lending company has asked a California federal court to hand it a win in its $16 million fraud and legal malpractice suit against Quarles & Brady LLP, saying the firm withheld information when assessing its client's ability to repay a loan and flouted an obligation to be upfront with the lender.

Quarles & Brady had a duty to act in the interest of lender GemCap Lending I LLC when assessing its client Crop USA Insurance Agency Inc. for a GemCap loan, the lender claimed, saying it was evident the firm misled it when assessing Crop USA's collateral backing for the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!