slides: 38 Studios Legal Fees
Thursday, May 29, 2014
GoLocalProv News Team
The three law firms hired by the Rhode Island Commerce Corporation for the 38 Studios case have amassed over $840,000 in fees. Below are the hourly rates for each firm and the total amount they have billed so far.
Related Slideshow: 38 Studios Legal Fees
New state records show that state legal fees associated with the 38 Studios bankruptcy are nearing $1 million. Below is a breakdown of how much each firm has made - and stands to make in the future. Figures are taken from documents provided by the Rhode Island Commerce Corporation.
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Cohen & Gresser, New York, NY
Billing rates:
Partners: $650-$750/hour
Counsel: $550-$650/hour
Associates: $300-$595/hour
Paralegal: $100-$225/hour
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Shechtman Halperin Savage, Providence, RI
Billing rates:
Attorneys: $250/hour
Paralegals: $100/hour
Legal Assistants: $50/hour
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Shechtman Halperin Savage's Fees
2012: $407,899.60
2013: $156,348.37
2014: $19,799.00
Total Fees: $584,046.97
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Wistow & Barylick, Providence, RI
Billing rates:
Attorneys: $175/hour, $225/hour & $250/hour
Contingency Fee: The RI Commerce Corporation agreed to pay Wistow & Barylick 16 2/3% of the gross of any amount recovered from a lawsuit, compromise, settlement or otherwise. This is not stipulated with the other law firms.
Note: Wistow & Barylick will only be paid at these rates if the state terminates its contract with the firm.
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Wistow & Barylick's Fees:
2012: $18.121.05
2013: $90,630.15
2014: $48,054.17
Total Fees: $156,805.37
Note: The above amounts paid to Wistow & Barylick cover the cost of out-of-pocket expenses such as filing fees, costs of depositions, obtaining records, charges for computer-assisted legal research, costs of expert consultants, and the costs of witnesses.
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