Judge Dismisses Millionaire’s Malpractice Claim Against Schnader Harrison Over Trust AgreementsOctober 12, 2010 – In The News
Philadelphia Common Pleas Senior Judge Albert W. Sheppard Jr. dismissed the legal malpractice claim brought by Raymond G. Perelman, a Philadelphia multimillionaire businessman, against Schnader Harrison Segal & Lewis stating the statue of limitations bars the claim. Schnader Harrison’s counsel, Abraham Reich, said, “This was a transaction that occurred decades ago. I think the judge got it right.”
Perelman argued that Schnader Harrison committed legal malpractice in 1990 when drafting legal documents that outlined trust agreements that supposedly did not match Perelman’s intentions. Sheppard said Perelman’s allegations of deficiencies in the legal document appear clearly in the documents and Perelman was capable of reading and determining whether his conditions were set forth. Sheppard dismissed the legal malpractice claim against Schnader Harrison and said the statute of limitations exceptions do not save Perelman’s claims.