A few weeks ago in Manhattan Supreme Court Allen & Overy filed proceedings against Qohelet Panama and affiliate Entoria Group over the alleged unpaid fees. The legal firm claims that Qohelet never disputed any invoices it received and made several pledges to pay. However, the actions stated that ‘defendants have failed to pay any amount for the extensive legal services that A&O provided’.
An engagement letter from April showed that Allen & Overy gave Qohelet a 10 per cent discount on its standard hourly rates. Court documents showed that those on the case were billing the following: New York partners Mitchell Silk $877 and Dorina Yessios, $832 with four associates billing rates between $594 (£457) and $360. Allen & Overy claimed that it had sought payment from its client on numerous occasions - offering up correspondence as evidence. Source: Legal Week