slides: 38 Studios Legal Fees

Thursday, May 29, 2014

 

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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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Cohen & Gresser's Fees:

Total Fees (2013): $102,615.20

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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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