Closing arguments set Thursday in Thompson Coburn trial

Steve Gonzalez Mar. 26, 2008, 2:46pm

Lawyers for Magna Bank and Thompson Coburn will begin closing arguments at 9 a.m. Thursday in the legal malpractice case against the law firm Thompson Coburn.

The case was originally scheduled to last four weeks, but constant objections and fierce bickering slowed the process in one of the most dramatic and complicated civil trials ever held in Madison County Circuit Court.

With notorious swindler James Gibson as backdrop - he stole millions from children and widows by making off with their structured settlement funds -- Magna Bank is suing law firm Thompson Coburn for legal advice that allegedly cost the bank millions in settlements.

Presiding Judge Daniel J. Stack will give each side two and a half hours to present closing arguments.

Magna is represented by Rex Carr of East St. Louis and Thompson Coburn is represented by Carrie Hogan of Jones Day in Chicago.

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