Business issue: limited resources, liability insurance, legal fees, experienced attorney

Bette · 03-25-2008, 08:23 PM

My husband has a business issue. We have contacted an attorney. He has to defend himself and we have so many questions.

My brother had a legal issue a few years ago which worked out to his benefit. His feeling: the attorneys involved seemed to be doing nothing; then fed him baloney and then, alas, just when he was ready to cut them off (had spent $50K), the deal he wanted in the beginning, well, it just then happened. (Settled in his favor). (Note: when he told them what he wanted in the beginning, he had only spent $10K).

Now, we are faced with a similar problem! Has anyone been there? We just want it over but will win eventually but it could take 12 to 18 months. We have limited resources, much less than my brother and have had to borrow from family members in case we need it - but it seems once the attorneys know you have the ability to get some $$$, they string it out. True? Not true. This are lawyers that will take this to trial.

We are even thinking of selling my husband's beloved business (and he loves it) just to get out and I know he would look back and regret it.

So, if you are a lawyer or you have had experience defending something you did, please let me know honestly. At some point, we will run out of money and we don't want to be forced to take a settlement or something when he did nothing, and I mean nothing, nothing wrong. (He is a CPA).

Driller1 · 03-25-2008, 09:19 PM

Quote:

Originally Posted by Bette

My husband has a business issue. We have contacted an attorney. He has to defend himself and we have so many questions.

My brother had a legal issue a few years ago which worked out to his benefit. His feeling: the attorneys involved seemed to be doing nothing; then fed him baloney and then, alas, just when he was ready to cut them off (had spent $50K), the deal he wanted in the beginning, well, it just then happened. (Settled in his favor). (Note: when he told them what he wanted in the beginning, he had only spent $10K).

Now, we are faced with a similar problem! Has anyone been there? We just want it over but will win eventually but it could take 12 to 18 months. We have limited resources, much less than my brother and have had to borrow from family members in case we need it - but it seems once the attorneys know you have the ability to get some $$$, they string it out. True? Not true. This are lawyers that will take this to trial.

We are even thinking of selling my husband's beloved business (and he loves it) just to get out and I know he would look back and regret it.

So, if you are a lawyer or you have had experience defending something you did, please let me know honestly. At some point, we will run out of money and we don't want to be forced to take a settlement or something when he did nothing, and I mean nothing, nothing wrong. (He is a CPA).

Does he have liability insurance?

FarNorthDallas · 03-25-2008, 09:32 PM

How deep are the pockets on the other side? How much can they spend on legal fees?

Bette · 03-25-2008, 09:44 PM

Yes, he has E & O insurance, however, we cannot be reimbursed until this is all over and he wins.

The pockets on the other side are unlimited - they will spend $200,000 to get $2000 if you get my drift.

It's total BS but now my husband has to shell out the $$$ in order to defend himself.