Screen Shot 2015-05-31 at 10.09.38 PMIn a couple of weeks, Blawgletter will end its eight-year run as my principal law blog.

On Tuesday, June 16, I will launch The Contingency: Insights on Sharing the Risks and Rewards of High-Stakes Business Disputes. You'll get more info on The Contingency, including how to subscribe.

Turning down the lights on Blawgletter

Blawgletter often handles business cases on a contingent fee basis.  We earn a percentage of the client's recovery.  No recovery, no fee.

But guess what?  The client may owe tax on the recovery.  Which could of course affect the client's net.  And the Internal Revenue Service may regard the entire recovery — including the contingent

The subprime residential mortgage business got much of its lending money from big banks.  Wall Street in turn acquired the cash by pooling thousands of subprime mortgages into securities and selling the paper to investors.  

In 2007, Lone Star bought $61 million of such securities from Barclays Bank and Barclays Capital.  The deal documents