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Mass Torts in a World of Settlement$
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Richard A. Nagareda

Print publication date: 2007

Print ISBN-13: 9780226567600

Published to Chicago Scholarship Online: March 2013

DOI: 10.7208/chicago/9780226567624.001.0001

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Administering the Leveraging Proposal

Administering the Leveraging Proposal

Chapter:
(p.250) Chapter XII: Administering the Leveraging Proposal
Source:
Mass Torts in a World of Settlement
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226567624.003.0012

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

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