Once in a great while the veil of attorney’s fees are exposed so everyone can see what the best of the best charges.
We saw that when Jackson and Walker filed for Sanctions against Virgie Arthur in the Texas state Court. We heard it in the transcript of a hearing in that case when L. Lin Wood said his client, Howard K. Stern had a bill of $1,000,000.00, [yes one MILLION dollars], for attorneys fees to fight the two large suits in Houston, Texas Stern became entangled in with Arthur.
In the bill submitted per Court Order in the South Carolina Federal Court of the Estate of Anna Nicole Smith vs. G. Ben Thompson, Ford Shelley and Susan M. Brown Esq., we again have the opportunity to have a look behind the veil of billing by attorneys in high profile cases.
Frankly I am surprise that L. Lin Wood only charges $400.00 an hour, after all he is the best at what he does. NOTE AND CORRECTION: L. Lin Wood’s fee is closer to $815.00 per hour in most cases unless as with this case in which Bryan Cave has a “Hybrid fee basis” contract the fee is almost $1,000 per hour. I stand corrected and that is more in sync with what I thought “he should be paid”. I remember saying during my deposition that I was surrounded by thousand dollar an hour lawyers. I was wrong with that many attorneys and paralegals present I should have said about three thousand dollar an hour lawyers.
This also gives us a clear insight into what one of Wood’s client’s, Richard Jewell, said that he did not get that much money from the settled lawsuits but it was not about money to him it was about clearing his name.
Then there is ALL of the expenses of lawyers like Wood and his entourage of Nicole Jennings Wade and Luke Lantta for traveling, preparing filings, preparing for a hearing or deposition, the time spent at a hearing or deposition and even the transcripts. That plus the percentage, which is usually at least 1/3 of the settlement of a suit but can go as high as 50% of a settlement and then the “expenses incurred” and you see why lawyers walk away with most of the money.
That said, if you were Richard Jewell, John and the late Patsy Ramsey, or Howard K. Stern how much would it be worth to you for L. Lin Wood to restore your good name?
Some of these lawyers have what I call a God complex because of the mega bucks they make, however I never saw that in the depositions and hearings I was part of where Wood also participated. He is a southern gentleman but he also drives a $220k+ car and can be a mean fighting machine on behalf of his clients.
I will be writing a biography on Wood and what his previous clients got in some settlements, was it worth it to them and who is L. Lin Wood. I have done a lot of research and hope you will come back and read that later this week. Yes I will be asking Mr. Wood for a on the record statement about this unauthorized biography and his previous clients feelings about this mega lawyer.
Here are the papers filed by Bryan Cave last week.
November 29, 2010 Anna Nicole Smith Estate Filing for Legal Fees
November 29, 2010 Anna Nicole Smith EstateAffidavit of Louis Nettles in support of legal fees.
November 29, 2010 Anna Nicole Smith Estatebilling statement by Louis Nettles.
November 29, 2010 Anna Nicole Smith EstateAffidavit of L. Lin Wood in support of legal fees.
November 29, 2010 Anna Nicole Smith Estatebilling statement by L. Lin Wood.
What do you think, is L. Lin Wood worth this much?
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December 7, 2010
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