Speaker Mattiello Pleased With 38 Studios Ruling
Friday, August 28, 2015
See the Statement Below
"I'm pleased with Judge Silverstein's ruling to release all of the 38 Studios' documents. The public will now be aware of the facts, the mistakes and the wrong-doing that led to the 38 Studios' debacle.
"I have had to be patient throughout this process because I have said all along that the best approach is for the Superior Court to unseal the documents and for the State Police to continue its investigation. I have tremendous faith in our State Police as the appropriate agency to pursue criminal activity.
"The General Assembly is legislative in nature. While my focus since becoming Speaker last year has been on passing good budgets that encourage a strong economy, the combined efforts of the State Police and the courts will allow us to uncover the facts to learn from the past and never repeat the mistakes that were made."
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.
Wistow & Barylick, Providence, RI
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.
Wistow & Barylick's Fees:
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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