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Cahn Seeks Court Approval of New Retention Agreement Terms for Boies Schiller

Nov 05, 2009, 16:32 (0 Talkback[s])
(Other stories by Pamela Jones)

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"Exhibit A is the October 31, 2004 retention agreement between SCO and Boies Schiller. Exhibit B is a new Supplemental Declaration of Stuart Singer. Exhibit C is the proposed new agreement. And Exhibit D is Cahn's proposed order rubber stamping the new fee structure.

"Note that BSF itself altered the October 31, 2004 agreement when it asked to be retained as special litigation counsel. The Stuart Singer Declaration [PDF] in support stated that any contingency fees paid should be paid only to BSF, not divided between the Original Three Firms, since it was the only one of the three original firms still providing services, and that it would be paid the full 33% minus any hourly fees already paid "at any time to the Three Original Firms". The three original firms were BSF, Kevin McBride and Berger Singerman. Singer said Kevin McBride still held a 7.5% interest.

"Now, there will be no such reduction for hourly fees already paid. Considering the enormous amounts already paid to those firms, that is a huge benefit to Boies, not the estate, by my reckoning and by Darl's. I can't show you the entire transcript of that July hearing until November 5th, but here's the part I'm referring to, on page 208, McBride on the stand:"

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