Law Firm Not Liable Under Escrow Agreement
Pete Werdesheim, and Joe Kingma won Summary Judgment for a law firm that acted as escrow agent in connection with a proposed $35 million dollar real estate development. The Plaintiff claimed that the law firm breached its fiduciary duty by prematurely releasing funds to a lender that backed out of the deal and kept the cash. Carlock Copeland argued that the law firm complied with the express terms of the escrow agreement. The Motion was granted on February 28, 2011, and the law firm was dismissed from the case.