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Anyone who provides professional services faces the prospect of disgruntled clients, and lawyers often have clients who are unhappy when a deal falls apart. In a recent case, a lawyer received a letter from one such client's new attorney warning him that the former client intended to pursue "claims" and that the lawyer should "forward this letter to your carrier of professional liability." What was the effect on the lawyer's malpractice coverage when he decided not to send the letter to the carrier?
In December 2011, Spiros Gonakis, an attorney, represented Rolvow Properties, LLC, in a real estate transaction involving Rolvow's sale of an apartment building to Classic Victor, LLC. Gonakis was retained to review the real estate purchase agreement, promissory note, and mortgage. Title to the apartment building transferred to Classic Victor on Jan. 9, 2012, and Gonakis' representation of Rolvow ceased.
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