From: Peter Gluck 

 

Ø  dear Jones, some 10% of the sum in dispute usually goes to the attorney, 
lawyers, hudges...everywhere.

 

Very funny. I mistook this for a serious discussion… unless you are implying 
that this trial will cost Rossi and IH together about $10 million,  no matter 
what the verdict. That is 10% of ~100 million and probably not far off.

 

Otherwise, you must be referring to Romania. In the USA, the sum in dispute is 
meaningless and often inflated – so consequently, you are either paying on the 
clock (exorbitant hourly fee) or there is a contingency agreement in place … 
which is typically one third of the actual judgment which is awarded, plus 
costs and fees. In the USA, contingency fees are based on the jury award, not 
the amount in dispute. 

 

One of the beauties of capitalism, no? Few lawyers would touch Rossi’s case on 
contingency, given his history of legal problems. Most likely the situation is 
that he is being bled, drop by drop by high hourly fees and his attorney would 
like to drag that blood-letting out as long as possible. Same on the other 
side. 

 

Looking ahead, I agree with Brian Ahern who has opined that as soon as it comes 
time to produce Penon for deposition, if he does not show up - then the entire 
case will be tossed… since Penon’s testimony is critical and no data can be 
introduced at trial without his physical presence. 

 

It is futile to quibble over these small details about the filings, motions and 
posturing, until the depositions. Bottom line: both sides are being fleeced by 
the legal system. And both are probably deserving of that predicament, but for 
different reasons.

 

BTW - If Penon shows up for deposition, and holds up against the IH legal team, 
then there could be a settlement, but chances are that he will be unavailable. 
It is clear that Penon is facing misdemeanor charges in Florida for operating a 
boiler without a license and failing to have US certification as a practicing 
engineer. Actual fraud has been mentioned by IH.

 

If you were Penon, would you return?

 

 

Reply via email to