Legal Question in Consumer Law in Louisiana

Post: LA: Settlement, Release and Indemnify Agreement

Posted by Leonard Levine on 10/28/10

I recently signed, along with 8 others, a settlement,

release and indemnify agreement in a class action suit. In

my lay opinion, there is no reason to delay distribution of

the funds agreed on to each of the 8 plantiffs, but my

attempts to find out some time line for payment have gone

unanswered. Can anyone tell me roughly how long it will

take before I get my money? Just a note to add the law firm

handling this case is a large firm.


Asked on 10/29/10, 6:34 am

1 Answer from Attorneys
Adam Lambert The Law Office of Adam S. Lambert

Generally, there is no reason to delay a settlement and the attorneys have no reason to do so. In fact, they don't get paid until you do, so I could just about guarantee you they are likely moving as fast as they can.

By law, attorneys do have to wait for the funds to transfer from the defendant's bank to their escrow account before they disperse funds. That can take time. I know of one attorney who refuses to disperse on any case until he sees the funds on his written bank statement--that takes up to 45 days sometimes.

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Answered on 11/03/10, 8:04 am


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