Reed Smith Sued Over Client's $20.5M Insurance Dispute
The owner of a Villanova, Pa., mansion that burned to the ground has sued Reed Smith for legal malpractice regarding the firm's negotiation of a $20.5 million insurance settlement that was disputed by the tenants of the home.
February 03, 2015 at 07:38 PM
6 minute read
The owner of a Villanova, Pa., mansion that burned to the ground has sued Reed Smith for legal malpractice regarding the firm's negotiation of a $20.5 million insurance settlement that was disputed by the tenants of the home.
Jerald Batoff was the owner of the historic Bloomfield mansion, a home designed by architect Horace Trumbauer on 7.1 acres of gardens in Villanova. Batoff was looking to sell the property and in 2011 entered a lease agreement with Canadians Dean Topolinski and Julie Charbonneau that included the option to buy the property.
The lease provided that if the home was damaged in excess of $1 million, the tenants may exercise the option to purchase and obtain the rights to insurance proceeds Batoff had with Chartis Property Casualty Co. for nearly $22.4 million.
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