Chapter

Administering the Leveraging Proposal

in Mass Torts in a World of Settlement

Published by University of Chicago Press

Published in print October 2007 | ISBN: 9780226567600
Published online March 2013 | e-ISBN: 9780226567624 | DOI: http://dx.doi.org/10.7208/chicago/9780226567624.003.0012
Administering the Leveraging Proposal

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This chapter deals with the implementation of the leveraging proposal. The leveraging proposal turns on the overriding of fee agreements reached by contract between plaintiffs' lawyers and their clients. It acts upon contingency fees to protect future claimants from both present clients and their lawyers, acting together, not to protect client from lawyer. The overriding of contingency fee contracts in the manner envisioned by the leveraging proposal is a job not well suited to existing institutions, even with legislative supplementation. Making peace for mass tort disputes already is a time consuming exercise fraught with the potential for litigation. The leveraging proposal could override the contingency fee arrangements for pending cases and thereby inhibit misallocation in a manner independent from the chosen reach of the compensation grid. The leveraging proposal would restructure the incentives of plaintiffs' lawyers for the protection of the future claimants who stand to be governed by the rule.

Keywords: leveraging proposal; contingency fee contracts; plaintiffs; mass tort; peace; litigation; lawyers

Chapter.  7799 words. 

Subjects: Company and Commercial Law

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