{ "media_type": "text", "post_content": "Question about contingency fees (I work in an insurance defense firm and therefore have no idea)- client signs contingency agreement with law firm. Law firm eventually sees case is not going to be a winner in court, and therefore withdraws. Client, on his own, negotiates a settlement. Is prior law firm that withdrew beforehand entitled to fees from the settlement? It’s a first-party property damage case. Thanks in advance!", "post_id": "61ea3d3d0f8a810032f5b1e6", "reply_count": 9, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law", "feed_type": "crowd" }

Question about contingency fees (I work in an insurance defense firm and therefore have no idea)- client signs contingency agreement with law firm. Law firm eventually sees case is not going to be a winner in court, and therefore withdraws. Client, on his own, negotiates a settlement. Is prior law firm that withdrew beforehand entitled to fees from the settlement? It’s a first-party property damage case. Thanks in advance!

like
Posting as :
works at
You are currently posting as works at

Depends on the terms, but in my experience you’re entitled to whatever the offer you secured while you were counsel. Eg if they offered $10k, you withdrew, and then later settled at 20k, you’d get your % out of the $10k

like

I imagine it depends what is stated in the representation agreement. However, I doubt it says anything along the lines of “if you succeed, we get paid…whether we achieved the result or not.” While it’s clear that prior to withdrawal the firm likely expended some resources on the case, some of which likely contributed to the ultimate settlement, that is the risk with contingency - if you don’t win you aren’t paid for your efforts. If I was advising the team that worked on such a matter, I’d be interested in knowing why they weren’t able to reach the settlement if OP was open to it.

like

Here’s what the agreement says about the award of fees:

Post Photo
like

Honestly though, the insurance company should be paying attys fees. They can be separately negotiated from the indemnity payment… but that runs into a plethora of ethical issues imho.

My firm's contingency contract spells out specifically that we have the right to a lien on the case for 30% of the final settlement or judgment even if the client fires us or we withdraw. And I've seen my firm enforce that successfully after the client fires us. I wouldn't feel comfortable enforcing that if we willingly withdrew though, unless maybe we withdrew because the client was doing something truly heinous or just refusing to cooperate outright. But if it were up to me, I would also change the wording of the contract itself to something a bit more lenient.

smart

Related Posts

Hi fishes I am looking for referrals as I am thinking of leaving my current company. I have almost 8 yoe as a business analyst and project management and in-house product management. My current designation is Sr. Lead Business Analyst. I also completed my MSc in Business Analytics from Bits Pilani, WILP CCTC is 13.35 lpa. Appraisal is going on and the current company is providing an offer of 16 lpa + B1 visa (if interview clears) Please give your suggestions 🙏

like

How will be client interview in Publicis Sapient? I heard it will be very difficult and we will be fired if we don't clear client interviews after 3 attempts. Is it true? Tech Stack: Java, Spring Boot, Microservices YOE:4.5

like

Hi , I am looking for a visa Sponsorship for either Canada or New Zealand. I have 5 years exp in IT Software Development using .NET and Business Analysis with minor Project Management.

like

Words to say, questions to ask, things to do when a client who moved their money to year exactly one year ago, blind sides you with ACATS out after you’ve made 13.7% because he is conservative? GO!

like

For McK PEI, how impactful does the Personal Impact story need to be? As a 1st year, I have a PMO role at a mega-cap tech client where I managed client relationships, owned deliverables, and executed against our timeline. It’s basically staff aug PMO, but still feels fairly impactful. Im just not sure how to objectively define impact?

like

We are Looking for a React Developer for a small project, any Free Lancers please Contact us

like

What side project are you currently working on?

like

Project manager thought it was ok for my copywriter and the copy CD to brief a motion designer without an art director present. To the surprise of no one with a functioning neuron, the motion artist had questions they couldn’t answer and had to call me afterwards. Am I losing my mind or is this absolutely insane?

like

Film Producer Looking for a freelance junior to mid level film producer for an upcoming project. Account experience on the agency side a plus. DM me directly.

like

Me: here’s an idea Client (female): hey group strat director (male) what do you think? GSD: repeats my idea Client: great idea GSD you’re the best client & GSD = 0% acknowledge me. What do I do?

like

Any tips for kickoff discussions with a new client contact? The organization is not new to us, but our main contact recently retired. The position was just filled.

like

Mmm mmm mmm.... There’s a special place in my heart for watching a previous client bomb in the big game.

likefunny

Where there a resource to see what should be included in a companies 10-k? Specifically looking for the income tax section. Not sure what detail my client needs to all include.

likehelpful

Hoping for candid advice to get exceptional ratings. I want to apply to GSAP in 2 years and am curious if anyone had concrete advice of getting exceptional ratings besides making sure to work hard and take on responsibility. I.e. did you talk to your manager and ask if you’d receive an exceptional rating? Do you need to talk to a partner about that? Do extra and consistent “market” initiatives for partners and SMs you do client work with help you get the exceptional for client?

like

Starting to travel again for clients. What’s the comfiest/best work wear for traveling and client site during summer?

likehelpful

Does anybody follow Spacedawgs? Looks like a legit project?

like

Starting as a Senior Associate in Project Management Consulting in a couple of months. Any advice on how to prepare and how to navigate in that space as a Black Male ? I would greatly appreciate your inputs.

like

Worst client industry to work with?

like

Was just notified my client is taking the business in house and I am now being moved to another team...how long do I wait to be moved to another account before I get worried about my job status?

like

Can’t wait till i’m on the 6/30 year end client!!!

like

Additional Posts

I’m looking to take my parents on a surprise trip to somewhere in the Caribbean or Mexico in December (traveling from the east coast). My mom had to go thru chemo earlier this year for breast cancer and I’m looking to do something to cheer her up after all that. Anyone have any recommendations as to where to go? I’ve been to Aruba, the Caymans, Bahamas, and St. Martin, so I’m trying to find somewhere new. We like to explore, snorkel, visit historic sites, wander around a town, etc. Any recs?

like
likehelpful

8 yrs in the business and my take home pay is around $130k but I run my own book and on no salary. I’m being offered a salary position at Citi to be a private banker for $150k + bonuses... Would you jump ship? I’m seriously considering it

like

How much do 1st year seniors in Atlanta make?

likefunny

PwC wtf is this sharing rooms at PwC University? Why do I work for a Big 4 if we can't even afford to have our rooms at a mandatory training? Anyone that's done PU what's the deal?

like

I know this sounds silly given it’s my job, but are there any good advertising account management specific books out there?

like

What advice would you give to a first year teacher trying to navigate virtual learning?

like

I work at Big4 TAS Germany,with a great team and a nice role that I enjoy. Nevertheless, I very often feel underpaid and at the moment the market seems quite hot and it would be possible to change to IB. Anyone has views on Big4 TAS vs Small local IB Boutiques (IEG, Case, Contor). Money is definitely better but I am afraid that the lack of name recognition may hinder my exit opps long term.

like

At the start of the year, are you going to be face2face, online, or a hybrid model?

like

Welcome lol 😂

like

Anyone have tips on exiting from consulting to VC? For context I have a bio PhD and 2 years biopharma strategy consulting experience

like

Title bait and switch? How would you respond? I interviewed for a manager position and they asked me to consider a senior role instead. I have nearly 7 full years of experience in tax.

likefunny

If money wasn’t an issue what work would you love to do?

like

Please use other COVID in the Classroom bowl

Does EY Advisory and PwC advisory pay the same?

like

It’s funny what you get as suggestion when you just type pharma!!

Post Photo
likefunny

Living it up in the city.

What companies are "making your friends jealous" kind of companies to work for? I'll start with a few: Google, Facebook, Apple, Waymo, what else?

likefunnyhelpful

Is Deloitte Austin in a hiring freeze of experienced audit associates?

like

Found one of these finally, truly the best so far, excited about the 22s now.

Post Photo
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal