We represent a commercial leasing company, Trident Leasing, here in Gotham, that leases machine equipment to manufacturers. We have an Engagement Agreement, which sets forth a very simple one-third contingent fee agreement. If we collected $30.00, we would keep $10.00, and remit $20.00 to the client. If we forward the matter to counsel outside of Gotham, that outside counsel typically receives a portion of our contingent fee, for example, twenty percent. But there would be no change to the overall fee, Trident would still pay the one-third. My firm’s relationship with James Gordon, the Chief Operating Officer of Trident, was strong. For many years, we collected for Trident, with some matters being settled, some requiring suit, some going through judgment enforcement. But over the years, the relationship was consistent. PUBLISHED IN VOL 38 ISSUE 4

File Type: pdf
Categories: 2024, Author, Commercial Law World, Tales From the Front, Volume 38 Issue 4
Tags: commercial collection, creditors'rights
Author: Timothy Wan Esq.
Cover, CLW Magazine, Vol 38 Issue 4

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