Attorneys successfully obtaining a dismissal of a legal malpractice action filed by the buyers against the attorneys for sellers who were negotiating with the lender for the buyers in an effort to approve a short sale to the buyers

Attorneys successfully obtaining a dismissal of a legal malpractice action filed by the buyers against the attorneys for sellers who were negotiating with the lender for the buyers in an effort to approve a short sale to the buyers.  The plaintiffs alleged that because the attorneys handled the negotiations, they owed a duty to the plaintiff buyers.  The attorneys submitted the closing documents to a lending institution, and were unable to get approval for a short sale.  In a short sale, a bank can refuse to entertain any offer that is below what is owed.  The Chancery Court found that plaintiffs' proofs were not sufficient to establish a duty owed by sellers' attorneys to the buyers.  That decision of the court was entered notwithstanding the fact that the attorneys handled all of the negotiations directly with the lender.  The court found that plaintiffs did not demonstrate any facts to overcome our motion to dismiss in the context of a foreclosure action arising out of a request for a short sale.