Firms Seek Protection From Loss Of Contingency Fees

Law360, New York (June 2, 2008, 12:00 AM EDT) -- Herrick Feinstein LLP and Impala Partners LLC are seeking court approval to enter into an insurance-like agreement that would protect them against the loss of their contingency fees in the Winstar Communications Inc. bankruptcy case.

This is the second time that Herrick Feinstein, special litigation counsel to the Chapter 7 trustee in the case, and Impala, special litigation consultant to the Chapter 7 trustee, have sought court approval for a protection agreement, which they likened to an insurance policy.

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