K2 INVESTMENT GROUP, LLC v. AMERICAN GUARANTEE & LIABILITY INSURANCE COMPANY

4235-117902/09, 4235A

91 A.D.3d 401 (2012)

936 N.Y.S.2d 139

2012 NY Slip Op 1

K2 INVESTMENT GROUP, LLC, et al., Respondents-Appellants, v. AMERICAN GUARANTEE & LIABILITY INSURANCE COMPANY, Appellant-Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 3, 2012.


Plaintiffs are limited liability companies that made multiple loans totaling approximately $3 million to nonparty Goldan, LLC of which defendant's insured, Jeffrey Daniels, an attorney, was a member. In the legal malpractice action underlying this action, it was alleged that as attorney for plaintiffs, Daniels undertook to record mortgages in plaintiffs' favor to secure those loans, and to obtain title insurance, and that he failed to do so, rendering plaintiffs' investments...

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