Securities and Exchange Commission v. Nadel et al

Filing 691

Unopposed MOTION for miscellaneous relief, specifically for leave to retain the James Hoyer law firm to pursue claims against Wachovia Bank, N.A. n/k/a Wells Fargo Bank, N.A. by Burton W. Wiand. (Attachments: #1 Exhibit A - Contingency Fee Agreement)(Morello, Gianluca)

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JAMES, H O Y E R , NEWCOMER, SMILJANICH & YANCHUNIS, E A . ATTORNEYS A T LAW O N E U R B A N C E N T R E , S U I T E 550 4830 W E S T K E N N E D Y B O U L E V A R D TAMPA, F L O R I D A 33609 (813)286mOO F A X (813) 2864174 www.jameshoycr.com Christopher C . Casper Jonathan B, Cohen Megan E , Davis Jiiiian Levy Estes Scan Estes Brendan T, Franzoni Jesse L . Hoyer Jady S. Hoyet W. Christian Hoyer Bill James (1932-2008) Sean P. Keefc Nicole C . Mayer John R, Newcomer, Jr. Elaine Scudieri Stromgren Teny A. Smiljanich John A. Yanchunis Investigators; John W. Allman Jim Leusner Jim Ross Alfred W. Scudieri September 15,2011 Burton W. Wiand WIAND GUERA KING, PL 3000 Bayport Drive Suite 600 Tampa, FL 33607 Re: SEC v. A. Nadei et al.. No. 8:09-cv-897-T-26 TBM (M.D. Fla.) Fee Proposal for Lawsuit Against WachoviaAVells Fargo Dear Mr. Wiand, You requested tliat our firm submit a proposed contingency fee arrangement regarding possible legal claims to be filed on behalf of the Nadel Receivership against Wachovia/Wells Fargo in connection with the Ponzi scheme perpetrated by Arthur Nadel. It is our understanding that Judge Lazzara must approve the counsel you select and the fee arrangement. It is also our understanding that the case will be filed in the Middle District of Florida, and will seek to recover damages from Wachovia/Wells Fargo on behalf of the following six Receivership entities: 1) 2) 3) 4) 5) 6) Scoop Real Estate, L.P.; Valhalla Investment Partners, L.P.; Victory IRA Fund, Ltd.; Victory Fund, Ltd.; Viking IRA Fund, LLC; and Viking Fund, LLC. In addition to our litigation experience, the James Hoyer law firm brings a unique set of tools to every case we prosecute. We believe that these tools will enhance the case brought on behalf of the Nadel Receivership against Wachovia/Wells Fargo. Specifically, the firm's staff features a dedicated team of fraud investigators, including former FBI agents, state fraud investigators, and investigative journalists. Further, we utilize a custom online case management system, which we have developed. This interactive system facilitates case development by enabling information to be captured, stored, assessed and organized within the ever-growing "story" of a case, as it proceeds from the initial stages of case development to trial preparation and beyond. In short, this system EXHIBIT A Burton W. Wiand September 15,2011 Page 2 helps attomeys summarize and update what they know about a case and how they know it, while enabling all relevant docimients, media, research and infonnation to be organized in a cohesive manner. Through our customizable case management system, Wiand, Guerra and King will be able to access a unique online space specific to the case against Wachovia/Wells Fargo, and the grovang knowledge about the facts as they develop. In other cases, we have found this to be an effective tool for collaborating and sharing documents, information and other relevant media. Regarding the payment of fees and costs, we propose the following: 1) We proceed with the filing of a suit against Wachovia/Wells Fargo and handle all aspects of the case through discovery and trial. 2) I f the case is successfully resolved on behalf of thle Receivership prior to the filing of an answer by the defendants, our fee will be 25% of the first $10,000,000 of any gross recovery. 3) I n the event that the case proceeds beyond the filing of an answer by the defendants, our fee will be 33 1/3% of the first $10,000,000 of any gross recovery. 4) In connection with Paragraphs 2 and 3, thereafter, our fee will be reduced to 20% of any gross recovery in excess of $10,000,000. 5) We will be responsible for costs necessary to prosecute this case, including the costs and fees associated with any experts or consultants necessary for prosecution of the matter, with the exception of any experts or consultants retained by the Nadel Receivership. To the extent that we use or rely on the services of any expert or consultant retained or hired by the Receivership, the costs and fees associated with those services will be paid directly by the Receivership. 6) We will be entitled to receive from any recovery reimbursement for all costs incurred or advanced by our firm. We understand that any fee agreement we enter into will subject to the approval of the U.S. District Court, We look forward to hearingfiromyou. Sincerely, 7. TERRY A. SMILJANICH TAS/ds

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