Ice Miller Llp
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200 West Madison Street, Chicago, IL 60606
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A state appeals panel said a Cook County judge didn't make a mistake in awarding the fees to the lawyers, despite defendants' claims that the lawyers will benefit the most. The panel also said the lawyers can potentially go after the defendants' lawyers to collect on the judgment and fees
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The settlement effectively means the named, individual plaintiffs will gain nothing from the so-called derivative action on behalf of investment partnerships, so there is no longer any justification for a judgment that would net a group of lawyers, which could include a sitting Cook County judge, $15 million in fees, the defendants argue.
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A Cook County judge ruled it isn't the court's business that Cook County Judge Patrick Sherlock and Sherlock's ex-law partner could collect 7% of the fees under a deal with a law firm headed by Sherlock's father-in-law, for work Sherlock did on the case nearly 20 years ago.
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Current Cook County Judge Patrick Sherlock stands poised to receive millions of dollars in fees for his work on a lawsuit nearly two decades ago. But the business partners who would pay those fees have asked a different Cook County judge to send the case and the fee request to a court outside Cook County, asserting all Cook County judges are too close to Sherlock to rule in the case.
