A former M&A partner at Simpson Thacher & Bartlett LLP, who had previously won $20,000 in monthly disability benefits from Provident Life & Casualty Insurance Co. is entitled to receive approximately $490,000 in fees, costs, and interest, confirms a recent ruling. Edward Chung, the ex-Simpson Thacher lawyer, was awarded by a Manhattan federal judge all his requested attorney’s fees and costs, amounting to about $375,000. The judge recognized that his request was comparatively lower than the presumptively reasonable fees, ascertained by taking into account the appropriate hourly rates and quantum of work accomplished.
The ruling also states that Chung is entitled to approximately $115,000 as interest over his disability payments. This figure represents a 9% rate over a three-year stint between when the disability benefits were to be provided and when they were actually paid.
The ruling is the latest in a legal battle Chung has been fighting to secure disability benefits, past-due and future payments, after a successful lawsuit. The full details of the ruling provide more in-depth insight into this legal development.
For the complete report of the development, read the original article here.