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Hi, Being a company located in Norway, if we were to take

Hi, Being a company located in...
Hi,

Being a company located in Norway, if we were to take legal actions against a company in Florida, we would like take the "no cure no pay" approach.

Are there any disadvantages using "no cure no pay" approach?

What "dangers" do we expose ourselves for doing so? If we do not succeed we would not have to pay our own attorney, but there might be other costs. What about compensation and cost award if we lose, is that something that could be on us? Is is possible to say a somewhat approximate total for a lawsuit for a lawyer to consider to take on this kind of assignment?
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7/9/2013
RGMacEsq
RGMacEsq, Attorney
Category: Business Law
Satisfied Customers: 17,276
Experience: Licensed Texas General Practice Attorney
Verified

RGMacEsq :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.

RGMacEsq :

 


Not knowing anything about your actual case against the company in Florida, it's hard to establish the merits of your case. That being said, "no cure no pay" is better known as a "contingency fee" situation in the United States. A contingency fee arrangement means that payment is "contingent" upon the attorney winning. Typically contingency contracts are a "no recovery / no pay" situation, where the attorney pays everything, but the costs (fees, copies, witnesses, etc...) can still be deducted from your portion of the payment. That is, the 33% (can be as much as 40%) that the attorney takes is before the costs are applied.


 

RGMacEsq :

I've entered into "hybrid" agreements similar to this when a client has a "riskier" case. That makes it better for me in the case that we lose (and I would not be out anything but my time and effort...). I've entered into "hybrid" agreements similar to this when a client has a "riskier" case. That makes it better for me in the case that we lose (and I would not be out anything but my time and effort...)

RGMacEsq :

But contingency fee arrangements typically are higher value, lower to mid risk situations. For instance, you're not going to find an attorney that will take a $10,000 case on contingency unless the company that would be sued has a reputation of quickly paying out good settlements.

RGMacEsq :

But you might find an attorney willing to take a $1,000,000 case, even if it's clear that it's going to have to go to court.

RGMacEsq :

Again, in a contingency fee situation, everything is spelled out what you would have to pay, and most of the time you don't pay anything unless you win. That means that the attorney is taking the risk in paying for court, filing fees, deposition costs, secretaries and paralegals, court reporters (which are a separate cost), etc...

RGMacEsq :

The attorney will take 33-40% of the total recovery (which is the downside), but if you don't get anything, then you're not "out" anything.

RGMacEsq :

(that's the upside)

RGMacEsq :

So while this is a very good arrangement for individuals without the resources to pay, or a more riskier case, it does require that the payoff be better for the lawyer so the lawyer will take the risk.

RGMacEsq :

As for finding an attorney, I would suggest using the lawyer referral service of the Florida Bar Association (a bar association is a group of attorneys): https://www.floridabar.org/tfb/TFBConsum.nsf/48E76203493B82AD852567090070C9B9/EC2322E512B83D1E85256B2F006CC812?OpenDocument

RGMacEsq :

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!

Customer:

Our case would be about 130 000 USD, I guess it's hard to find someone to take this assignment as a contingency fee than

Customer:

!?

Customer:

Thank you for your reply by the way :)

RGMacEsq :

It depends... If you are operating under a contract that calls for attorneys fees and costs, any award of attorneys fees and costs would be added to the final amount, and would be subject to the percentage. And again, if you were to pay for the filing fees and other related costs (i.e. things that would otherwise have to be paid by the attorney) the attorney might put his own fee in contingency.

RGMacEsq :

So while you would still have to pay something, if you lost you wouldn't owe the attorney anything for his work. You would only owe those fees that would have to be paid by someone.

RGMacEsq :

(and the only way to know if an attorney would accept this type of arrangement is to call some to see)

Customer:

I see

Customer:

I am used to the loosing part having to pay for the counterparts costs. If we had someone engaged, contingency fee, and we loose. Our company would be subject to cover the counterparts expenses wouldnt we?

RGMacEsq :

Only if your contract specifies that the winning party can recover costs. Otherwise, the "English Rule" (as it's known) of "loser pays" is not generally recognized in American courts, but rather the "American Rule" where each side pays its own way is the norm.

RGMacEsq :

But if you have a contract that changes that arrangement, then the court will follow the contract, not the general rule.

RGMacEsq :

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!

Customer:

Thank you very much!

RGMacEsq :

You're welcome, and again, good luck to you!

RGMacEsq
RGMacEsq, Attorney
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Satisfied Customers: 17,276
Experience: Licensed Texas General Practice Attorney
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