Question
Brant Ranger, Paula Potts, and Matthew Lenge are all tax lawyers.They formed a partnership called Ranger Potts & Lenge LLP .They practiced together and increased
Brant Ranger, Paula Potts, and Matthew Lenge are all tax lawyers.They formed a partnership called Ranger Potts & LengeLLP.They practiced together and increased the partnership's profitability over a number of years before the partnership ran into difficulties.Lenge was retained by Phillip Schooner, a wealthy and well-known philanthropist.Lenge acted negligently for Schooner in several income tax transactions which breached theIncome Tax Actand caused millions of dollars in losses to Schooner.Schooner brought a legal action against the firm and each partner individually.
Who is to be held responsible in this matter?Explain.
ANSWER ASCONCISELYAS POSSIBLE
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