- 11 U.S.C.
In re Winstar Communs.
Dec
04
2007
Ruling
Agreement between law firm, consulting firm and lender to "hedge" contingency fees in litigation for chapter 7 trustee denied as "fee sharing."
Procedural posture
The law firm and its consulting firm, both retained to complete commercial litigation on behalf of the chapter 7 trustee, moved for the authority to enter into an agreement with a lender to "hedge" a portion of their anticipated contingency fees for the litigation, which was on appeal. The United States trustee filed an objection to the motion, claiming the agreement violated the prohibition of fee sharing of 11 U.S.C. § 504.
ABI Membership is required to access the full summary of In re Winstar Communs. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: