Counsel for Ernst & Young retained Cornerstone Research and Professor Christopher James of the University of Florida in an accountant’s malpractice claim brought by the bankrupt estate of Metropolitan Mortgage & Securities Co.
Retained by Bartlit Beck Herman Palenchar & Scott
Counsel for Ernst & Young retained Cornerstone Research and Professor Christopher James of the University of Florida in an accountant’s malpractice claim brought by the bankrupt estate of Metropolitan Mortgage & Securities Co. (Metropolitan), a billion investment, real estate, and insurance conglomerate that collapsed in 2004 after suffering liquidity problems and a fraud by its senior management. After a four-week trial, an arbitration panel consisting of three former federal judges found in favor of Ernst & Young. This is the second successful defense of Ernst & Young in claims stemming from the Metropolitan bankruptcy.