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)
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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