Holocaust Victims' Settlement Lawyer Bill Saga, Part 2
For the past few years, lawyer and NYU professor Burt Neuborne has been battling to be paid for work on a $1.25 billion settlement from Swiss banks to Holocaust survivors. Even though a judge awarded Neuborne his fees last December, the conflict is far from over: Now Neuborne wants interest on his fees.
In 2005, Neuborne had submitted his time (8,000 hours!) on the case for payment, initially charging $5.7 million, which was later discounted to $4.1 million. Some survivors felt the figure was egregious so they refused to pay, and thus began a court battle, plus two outraged NY Times editorials (one in 2006 and one in 2007) - with Letter to the Editor responses from Neuborne and one of his colleagues. Neuborne argued:
" It was a grueling job that nobody else wanted, and that I have done faithfully and successfully for seven years. There has to be a special application of the rule that no good deed goes unpunished for someone to say that because I voluntarily gave up my fees for getting the settlement and that would be $10 million somehow I’m not allowed to be paid for seven years’ work in successfully carrying it out."Last December, a court magistrate determined that Neuborne was owed $3.1 million. The Sun reports Neuborne has requested $299,419 in interest on the $3.1 million, noting that it took two years for him to be paid. A survivor in Queens Leo Richter told the Sun, "He's setting a precedent on greed," to which Neuborne said demanding interest was "standard" and commented, "Does Leo Richter not understand the concept of interest?"
Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.
Comments [rss]
-
JenChungsBaby
-
nik13
-
JenChungsBaby
-
freddyhere
-
nik13
-
Snoopy
-
JenChungsBaby
-
smh
-
JenChungsBaby
-
Reality Czech
-
coolmidwestguy
-
msk

