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CG&P Obtains Dismissal of Million Dollar Claim Against Attorney Escrow Agents

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CG&P Obtains Dismissal of Million Dollar Claim Against Attorney Escrow Agents

Catalano Gallardo & Petropoulos LLP recently won a pre-trial dismissal of a claim against a law firm which was alleged to have improperly released a one million dollar down payment in connection with a $16,000,000 real estate transaction in Suffolk County. The Appellate Division, First Department, ruled that the firm’s release of the million dollar down payment was not a material breach of the escrow agreement and that the plaintiff was not entitled to a refund of the down payment.

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