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Billionaire Rennert files malpractice lawsuit over $213 million judgment
Source: Reuters
#U.S. JANUARY 9, 2018 / 11:55 AM / UPDATED 2 HOURS AGO
Billionaire Rennert files malpractice lawsuit over $213 million judgment
Jonathan Stempel
3 MIN READ
NEW YORK (Reuters) - Billionaire Ira Rennert has filed a $214 million malpractice lawsuit against his former law firm, after a jury found him liable for looting his magnesium company to build a huge mansion in New York’s Hamptons.
Renco Group Inc, Rennert’s holding company, said neither it nor the mining mogul would have been liable had Kaye Scholer and partner Peter Haveles objected to faulty jury instructions that Rennert has said led to an “irrational” February 2015 verdict.
The lawsuit, filed late Monday in the state supreme court in Manhattan, may be the last chance for Rennert, 83, to avoid a big payout, after the U.S. Supreme Court in October rejected his appeal of the verdict and resulting $213.2 million judgment.
Both had been upheld by the federal appeals court in Manhattan last March.
-snip-
Billionaire Rennert files malpractice lawsuit over $213 million judgment
Jonathan Stempel
3 MIN READ
NEW YORK (Reuters) - Billionaire Ira Rennert has filed a $214 million malpractice lawsuit against his former law firm, after a jury found him liable for looting his magnesium company to build a huge mansion in New York’s Hamptons.
Renco Group Inc, Rennert’s holding company, said neither it nor the mining mogul would have been liable had Kaye Scholer and partner Peter Haveles objected to faulty jury instructions that Rennert has said led to an “irrational” February 2015 verdict.
The lawsuit, filed late Monday in the state supreme court in Manhattan, may be the last chance for Rennert, 83, to avoid a big payout, after the U.S. Supreme Court in October rejected his appeal of the verdict and resulting $213.2 million judgment.
Both had been upheld by the federal appeals court in Manhattan last March.
-snip-
Read more: https://www.reuters.com/article/us-rennert-malpractice/billionaire-rennert-files-malpractice-lawsuit-over-213-million-judgment-idUSKBN1EY20L
