Quote:
Originally Posted by Did you just call me Coltrane?
One of the first things I do with a client is a cost/benefit analysis of taking the case through (a) SJ stage, and (b) trial. With an estimated budget.
Even if I could bill out at $7-800/hr, I still don't see how I could generate 1/3 of that in fees before any depositions have been taken. Maybe I'm...honest? I don't know. I bill for the work that I do? Granted, the reason they are on their 12th amended complaint is because no one there seems to know how to draft a complaint to get around the economic loss doctrine.
This same Big Law firm asked the court for costs/fees for being forced to respond to an emergency motion (the motion was to stop the plaintiffs from destroying evidence). They filed a 2-page response and asked for $10k.
Denied. And laughed at.
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This is why I enjoy workouts. You skip right to the end.
Yup, the client's in default. Yup, you can accelerate. Yup, you can confess.
But you can't collect. So let's explore taking your loan out, or stretching it, or getting out of this for a lump sum discount. Otherwise, we're going to burn ungodly sums fucking around in the execution process. And then at the last second, we might just throw them into bankruptcy and some other lawyer can feed off the carcass for a while.
Every case should work this way.
I sued someone a bunch of years ago for a million dollars, plus punitives. Fraudulent business valuation. Opposing counsel offered up all facts on how his clients, despite having assets, were judgment proof. That was a smart move I don't see replicated enough. I had to tell clients, "Look, there's clear liability, but you can't spend on this because collection's impossible." So we did the bare minimum to try to lever a small settlement going forward. Every case should work this way. They should all be vetted in the following order:
1. Collectibility;
2. Likely award size;
3. Probability of winning
I don't think big or even mid-sized or small comm lit firms like to honestly assess that shit because in almost all comm lit, when you factor in annoyance, time spent talking to lawyers, and costs, litigating anything other than huge cases - really huge cases - makes no fucking sense.
And yet you'll see small to mid sized businesses aggressively litigating (deps, motion practice, trial, appeals) over $250k and less all day long. Fucking mindless.
