Crude oil. Credit: Алексей Закиров/Adobe Stock Pa. Lawyer Loses Bid to Arbitrate Claim Over Failed $2.5M IOLTA Escrow Payment
In a case one lawyer called a possible cautionary tale, the Pennsylvania Superior Court drew a fine line between a lawyer's work as an escrow agent and their legal obligations as an attorney.
July 20, 2021 at 02:58 PM
5 minute read
A North Dakota crude oil company's lawsuit against a Philadelphia-area attorney who allegedly failed to properly pay $2.5 million out of his IOLTA account to facilitate a financing deal must head to court, the Pennsylvania Superior Court has ruled, drawing a fine line between a lawyer's work as an escrow agent and their legal obligations as an attorney.
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