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BLUE WATER CORP., INC. v. O'TOOLE

No. C4-82-1074.

336 N.W.2d 279 (1983)

The BLUE WATER CORPORATION, INC., et al., Respondents, v. Terrance S. O'TOOLE, Appellant.

Supreme Court of Minnesota.

Reargument Denied and Stay Vacated August 10, 1983.

Attorney(s) appearing for the Case

Irving Nemerov, Sean Rice, Minneapolis, for appellant.

Hansen, Dordell, Bradt, Odlaugh & Bradt and J. Mark Catron, St. Paul, for respondents.

Considered and decided by the court en banc without oral argument.

WAHL, Justice.

The Blue Water Corporation, Inc. (Blue Water) and its incorporators individually brought this legal malpractice suit against defendant Terrance O'Toole, claiming that his negligence had caused their failure to obtain a bank charter from the Minnesota Commerce Commission. A jury found negligence and awarded damages of $100,000 for lost profits that the bank might have earned had the charter been obtained. O'Toole appeals from an order of the Ramsey County...

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