Does Republican lust for Tort Reform extend this far?

[AP]

Bank sues their lawyers for malpractice and get $4.4 mil, plus heavy puntive damages yet to be determined.

A Philadelphia law firm was hit with a verdict of more than $4.4 million in a legal malpractice case after a Philadelphia Common Pleas judge concluded that the firm had provided a false opinion letter to a bank prior to the closing of a $7.3 million loan.

At the close of a non-jury trial on Friday, Judge Gene D. Cohen ruled that Abrahams Lowenstein & Bushman should also be hit with punitive damages because the conduct of its lawyers was "reckless" and "outrageous."

Cohen ordered that the plaintiff, Republic First Bank of Philadelphia, is now entitled to discovery on issues relating to punitive damages and scheduled an Aug. 3 hearing to assess the punitive award.

...

Rosen told the judge that the evidence at trial showed that the Abrahams Lowenstein lawyers knew before the loan was funded that a portion of that loan that was to be secured by a $4.2 million leasehold mortgage was not enforceable and was void {because the leaseholder did not seek the consent of the landlord}."

{The law firm hired by the bank had a long-standing business relationship with the mortgage leasholder, so they lied to the bank -- their client -- to help their longstanding client, who did declare bankruptcy leaving the bank unable to take possession of the lease which had secured the loan.}

http://biz.yahoo.com/law/040708/00e212858cd4815ab3f349aa63c29596_1.html

[gumby]

1. Gosh

I thought "Torte" was a yummy Republican desert that all well-bred Republican wives were responsible for baking for their respectable Republican husbands/corporatist/congresspersons.