Allison Scott, Author at Allison Scott http://www.allisonscottlaw.com/author/allison/ Title Attorney in Sevierville, TN Thu, 05 Feb 2015 21:27:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Just a little Throw-Back Thursday https://www.allisonscottlaw.com/just-little-throw-back-thursday/ Thu, 05 Feb 2015 21:27:18 +0000 http://www.allisonscottlaw.com/?p=218 My husband sent this tweet to me this morning as a reminder that no matter how frustrating and stressful divorce litigation can be, at least we are no longer worrying about separating the parties’ beloved Beanie Baby collection. 1999:A divorcing couple divides their Beanie Baby investment under the supervision of a judge. http://t.co/WFexnojqAv pic.twitter.com/Vr3jNMHpW7 —...

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]]> My husband sent this tweet to me this morning as a reminder that no matter how frustrating and stressful divorce litigation can be, at least we are no longer worrying about separating the parties’ beloved Beanie Baby collection.

The post Just a little Throw-Back Thursday appeared first on Allison Scott.

]]> Why it’s important to triple-check your work… https://www.allisonscottlaw.com/important-triple-check-work/ Fri, 23 Jan 2015 17:23:29 +0000 http://www.allisonscottlaw.com/?p=200 As an attorney, especially a relatively new attorney, I’ve gotten into the practice of double-checking and even triple-checking my work product. One tiny slip can cause major consequences in the legal realm, and such was the case with large mega-firm Mayer Brown who inadvertently drafted a release for a $1.5B loan made to GM from...

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]]> As an attorney, especially a relatively new attorney, I’ve gotten into the practice of double-checking and even triple-checking my work product. One tiny slip can cause major consequences in the legal realm, and such was the case with large mega-firm Mayer Brown who inadvertently drafted a release for a $1.5B loan made to GM from JPMorgan Chase Bank.  The error arose when the task of researching and drafting a release for a $300 security interest held by JPMorgan was delegated to a paralegal who mistakenly included all security interests as opposed to just the one to be released.

Instead of double checking the work, it was okay’d by multiple higher ups, and eventually was even reviewed by JPMorgan’s own legal counsel at Simpson Thacher & Bartlett, yet another mega-firm, who gave the go-ahead to file the document.  Now, after multiple attempts to correct the error, and an appellate review, the court is holding the attorney’s feet to the fire.  Failure to review the document thoroughly is not an excuse.  One multi-billion dollar bankruptcy later, and someone is in big trouble….

And that, my friends, is why it’s important to check your work.

You can read the full opinion below.

GM and JPMorgan

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