Monday, March 7, 2011
Prince With Legal Fee Dispute? by Viper
Generally speaking, it is a bad ideas for lawyers to sue their clients. Especially if the client is famous pop icon because the suit has the potential to generate a lot of negative publicity. This is generally true even if the reason for the suit is a failure to pay a legal fee. Insurers typically discourage the practice because it tends to increase the probability of a counterclaim. Consequently, when a law firm sues a client, they typically do so only after a great deal of thought and after a genuine attempt to resolve the dispute has failed.
In this weeks feature story, the law firm of Patterson, Belknap, Webb & Taylor were apparently hired by Prince to help him resolve some financial obligations. Apparently, the legal work was performed; however, Prince did not pay the attorney's fees associated with the legal representation. To obtain more details of the allegations, please read the complaint filed by Patterson Belknap Webb & Taylor in New York state's Supreme Court in Manhattan. The firm apparently alleges that Prince owes them more than $700,000 in attorney's fees. (This sum is apparently in addition to the $125,000 that Prince apparently has already paid them. )
At first blush this may seem like a lot of legal fees; however, the firm apparently represented Prince in separate cases in California, Ireland and New York. They also represented Prince in his divorce. One may reasonably presume that this was no easy task. Consequently, the amount of the legal fees in question may actually be quite reasonable given the amount of work involved. So why have the fees not been paid? The public may not know until Prince's new law firm files an answer to the complaint. While lack of cash flow may come to mind, that excuse is unlikely in Prince's case. Prince recently put on three concerts at the Oracle Arena in Oakland so one may reasonably assume that Prince can still generate enough revenue to pay even the most expensive legal representation.
Perhaps in the end, Prince is just frugal. After all, his dream girl "...wore a raspberry beret, the kind that you buy at a second hand store." Perhaps he was expecting similar pricing on legal fees?