Seventh Circuit Throws Out Mayer Brown Malpractice Suit Stemming From Colossal $1.5 Billion Filing Error

LexisNexis (August 1, 2017, 1:35 PM EDT) -- Over the last eight years, this newsletter has included numerous stories about the colossal filing error that inadvertently terminated the perfected status of a $1.5 billion secured loan.  The saga began with an error made by a paralegal at the Mayer Brown firm, which was counsel to the borrower, General Motors. Drafts of the closing documents (which terminated the wrong loan) were circulated and reviewed not only by Mayer Brown, but also by counsel for JP Morgan (Simpson Thacher), the lead lender in the syndicate.  After...
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