Opinion ID: 2612927
Heading Depth: 3
Heading Rank: 1

Heading: Wade & De Young's Action to Recover Its Legal Fees

Text: Wade & De Young provided legal representation for Moneymaker/Hub City, J/V (Joint Venture), in the ASHA v. Moneymaker/Hub City, Joint Venture litigation. Following settlement of the ASHA litigation, Hub City declined to authorize any further payments to Wade & De Young for attorney's fees. Wade & De Young then brought suit seeking payment of its attorney's fees, in the amount of $690,000, earned in connection with the ASHA litigation. In its complaint Wade & De Young also asserted a possessory attorney lien (pursuant to AS 34.35.430), which it sought to foreclose, and additionally sought to interplead certain funds in its possession. Hub City and the Joint Venture filed an answer to Wade & De Young's complaint. Thereafter the Joint Venture petitioned the Alaska Bar Association for arbitration of the fee dispute pursuant to Alaska Bar Rule 39(a). [1] A panel of the Alaska Bar Association Fee Arbitration Committee (Fee Arbitration Panel) held a hearing and concluded that the amount of compensation due Wade & De Young for its legal services was $471,000 including all expenses, plus a pro rata share of accrued interest. Wade & De Young then filed a motion requesting that the superior court confirm the Fee Arbitration Panel's award. After considering Hub City's opposition to the motion, the superior court confirmed the decision and award of the Fee Arbitration Panel on July 2, 1991.