Legal Question in Business Law in Georgia

Georgia Jurisdiction Contractual Litigation

I have a contract with a Colorado Corporation that has been breached. The compnay is imploding and they owe me $200k+ Equity (potentially worthless). The contract states a GA jurisdiction and the compnay has plans to either bankrupt firm and/or move it offshore to not pay anyone. I have been involved with them for over 6 months and know the ins and outs fairly well. There is $160k held in merchant account reserve wherein the signer on the merchant account already agreed to give me claim to it. I also had consulting contract over last 6 months which was not paid in full $140k owed there. I knew that this would happen as the CEO has misappropriated funds in the past and I saw this coming. To back up my case I probably have 300+ hours of legally recorded conversations.

I need a top notch litigator firm to hit this hard and fast on contingency only. I was offered 15% and 20% so far is that the norm? I have so much backup and testimony from employees and ex-employees it seems like a layup as long as we get claim to those merchant reserve funds asap.


Asked on 10/03/08, 5:30 pm

3 Answers from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Georgia Jurisdiction Contractual Litigation

I would be surprised if you can find an attorney to take this case on a purely contingent fee arrangement. In any business case where a large sum is owed, I always suspect and worry about the company filing for bankruptcy. You already pretty much solved that worry when you say you suspect that bankruptcy (or moving off-shore) is a possibility. Good luck.

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Answered on 10/03/08, 5:36 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Georgia Jurisdiction Contractual Litigation

40 percent is closer to the norm. Unless you are paying on the judgment instead of collection, a "slam dunk" is likely meaningless since you already said it might not be collectible. If it was a slam dunk you likely would be paying hourly.

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Answered on 10/03/08, 5:45 pm
Jeff Kent Kent & Merritt, P.A.

Re: Georgia Jurisdiction Contractual Litigation

I occasionally handle business disputes and "business divorces" on a contingency basis. However, if I am going to invest $50,000+ in time on a case, I want to be sure not only that I am going to win, but also that I am going to collect. That's what concerns me about your situation. However, I would be happy to discuss this with you and see if I could help.

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Answered on 10/06/08, 9:25 am


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