Risk KnobPrologue

A story from a long-ago summer day highlights the big rewards that you can earn from taking purposeful risks.

In a little over a month, on August 5, 2015, 151 years will have passed since a commander took a gamble during the Battle of Mobile Bay.

The commander knew that the defenders had rigged

The Seventh Circuit held last week that "gross amount recovered" in a contingent fee contract didn't include money the client got before hiring the lawyer.  In re Solis, No. 09-4075 (7th Cir. July 6, 2010) (applying Illinois law).

The ruling turned on the principle that "Illinois construes attorney contingent fee agreements strictly in

A few weeks ago, Blawgletter read an article about the down-side of making a contingent fee deal with a lawyer.  

The item said that the arrangement creates a conflict of interest.  The lawyer, it said, wants to settle fast because he or she may earn a big fee for doing little work while the client

Blawgletter laments that most cases involving the worst instances of fraud suffer from a sad but inexorable fact:  the victims' money has vanished. 

Just ask the people who trusted their savings to Bernie Madoff, for instance.

Judges (and, occasionally, juries) struggle with competing urges in such cases.  On the one hand, they want to find a way to right the wrong. 

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 Seventh Circuit today upheld a forum non conveniens ruling.  The order under review sent a Bulgarian company's case against a Bulgarian bank and its American parent to Bulgaria.  Anecdotes about corruption in the Balkan state's courts didn't impress the panel, nor did Bulgaria's hefty filing fee, among other things that Their Honors found not enough to keep