Tobacco Fee Arbitration Panel Announces Iowa Decision
NEW YORK, Dec. 29 /PRNewswire/ -- The Tobacco Fee Arbitration Panel announced today a decision regarding attorneys' fees for outside counsel retained by the State of Iowa in last year's state tobacco litigation settlement.
In this case the Panel determined that full, reasonable compensation for these attorneys is $85,000,000.
These fees, which will be paid by the tobacco companies, are separate from B and in addition to B the financial recovery the State of Iowa will receive through its settlement with the tobacco industry.
The arbitrators for the Iowa case included the Panel's two permanent members -- Dr. John Calhoun Wells, the Panel's chairman, and former U.S. District Court Judge Charles Renfrew, the industry-appointed member -- and Harry Huge, Esq., the Iowa counsel-appointed member. Dr. Wells is the consensus selection of both parties and is permanent chairman.
The Panel has previously announced fee determinations for attorneys representing the states of Florida, Texas, Mississippi, Massachusetts, Hawaii and Illinois. The Panel will continue its work for those states choosing to enter the arbitration process. To date, some states have opted not to enter arbitration and have reached separate agreements with the industry on attorneys' fees.