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Gilbride Tusa Gets Quick Win Axed In $85M Malpractice Suit

Law360, New York (January 11, 2018, 8:57 PM EST) -- A New York state appellate panel on Thursday reversed a quick win given to two Genesis Merchant Partners investment funds against Gilbride Tusa Last & Spellane LLC on the question of the firm's liability for legal malpractice in an $85 million suit alleging it mishandled security interests in life insurance policies backing three loans made by the funds.

The five-judge panel found that last year’s summary judgment ruling from New York Supreme Court Judge Nancy M. Bannon was premature, in part because questions of fact remained...
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