Attorneys in Tom Petters cases seek $1 million

  • Article by: JENNIFER BJORHUS and DAVID PHELPS , Star Tribune staff writers
  • Updated: December 17, 2008 - 11:34 PM

Mounting legal bills raise questions about what will be left for Tom Petters' creditors.

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LarsonDec. 17, 08 8:39 PM

When discussing the hourly fees that lawyers are charging in the Petters case which range from $165 to $750 per hour, Herbert Kritzer, a professor at William Mitchell College of Law in St. Paul said: "As hourly rates go these days, nothing in this case strikes me as out of line. It’s not surprising once you think about the amount of time going into this." What a circular argument. He says that the more hours it takes, the more per hour they should charge? Only a lawyer could love that logic.

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melanie71068Dec. 17, 08 8:48 PM

They are working for $750/hour? What they are doing pushing papers, isn't worth $750/ an hour. This is absolutely disgusting to people. Larson you are correct, the only people who think this is logistical is LAWYERS! FRAUDS! They aren't deserving of it, and furthermore should be cut in half, they want to make sure no one gets anything but them. Greedy B's!!!!!!!!!! Merry Christmas, ATTORNEYS!

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CocoLotionDec. 17, 08 8:57 PM

you describe the lawyers as a pack - nothing as pack-like as a bunch of journalists in many situations.

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sillygatoDec. 17, 08 9:04 PM

Tom Petters, that is. He might be a criminal, but he's definitely a cutie pie.

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kenw1952wDec. 17, 08 9:07 PM

the lawyers submit their bills and then the tune changes to "nothing is out of line". Sounds to me like nothing more than an opportunity for the lawyers to perpetrate a "legal fraud" as a result of an illegal one. Kelly makes a big production out of denying expenses for other creditors but not his professional colleagues. Keeping in mind that everyone involved, the experts who were interviewed,Kelly, the judges etc. are ALL lawyers, talk about the fox guarding the hen house! "If cash flow becomes a problem, Lodoen said, the lawyers and paralegals either work for free or don’t work", Kritzer says...what a joke, when have you known a lawyer to work for free, it will definitely be the latter, they will simply quit if they're not paid, so much more their "lawyerly ethics" and beliefs in everyone's right to representation (translated that means the high priced suits hand it off to the new law school graduates). Also, as any paralegal will tell you, they do 95% of the "work" involved but yet their time is billed out as "attorney's time" and the paralegal gets paid $20-$25 per hour.

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janenjohnDec. 17, 08 9:08 PM

At first, I wondered who the real crook was - Petters or his attorneys. But then I realized that this is probably the best thing that could happen to him. Whatever's left of his estate can go to his greedy lawyers - in payment for his greed. Hopefully all of his employees won't get thrown under the bus with him.

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silverglovesDec. 17, 08 9:09 PM

Aren't all his earnings funny money? Petters was a complete fraud, so I don't understand why the government is allowing him to use his fraud money for his defense? I'm glad the judge didn't allow bail for Petters (aka Fat Boy).

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METRO6373Dec. 17, 08 9:15 PM

Attorneys are asking for incredible fees and the expenses related to his "estate" are being covered? Tell me again . . . how is it that Ponzi Schemes are successful? After all, doesn't it seem we are all being duped at this point? (WHY THE HELL ISN'T IT ALL BEING LIQUIDATED DOWN TO THE LAST SCREWDRIVER IN THE TOOLBOX NOW??)

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unifyusDec. 17, 08 9:18 PM

Apparently "Larson" is a mathematical genius becuase he think he just poked a hole in the logic of a law professor. But, what Larson has failed to do is understand that there are more than one lawyers on this case and each lawyer charges a different rate depending on the experience, knowledge, specialty he/she has, which would account for the change in cost. And furthermore, how is $750/hr disgusting to people? Why do people even care? Are people disgusted with doctors because they make $2000/hr? Are people disgusted with you becuase you make $11/hr? "Ask not what your country can do for you. Ask what you can do for your country."

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silverglovesDec. 17, 08 9:31 PM

I want to go to court and watch.

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