Dallas’ Highland Financial Partners LP and two related companies filed suit in state court on Jan. 25, alleging “legal malpractice/negligence” against Orrick, Herrington & Sutcliffe in connection with how Orrick handled a financial transaction.
In the petition filed in the 68th District Court in Dallas County, Highland Financial, Highland CDO Opportunity Master Fund LP and HFP CDO Construction Corp. (collectively Highland) allege Orrick, Herrington & Sutcliffe LLP of Los Angeles and Orrick, Herrington & Sutcliffe (Europe) LLP of London were negligent in connection with a “proposed multimillion-dollar collateralized debt obligation (‘CDO’) transaction between Highland as borrower and Royal Bank of Scotland plc (‘RBS’) as lender.” [See the Highland petition.]
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