Madison County judges let $1.75 million draw interest while lawyers fight over it
Madison County judges deposited $1.75 million at Regions Bank to draw interest while Brad Lakin of Wood River and Paul Weiss of Chicago fight over it.
On Oct. 20, Circuit Judge Dennis Ruth approved an escrow account that Circuit Judge Daniel Stack authorized at the close of a class action against Hartford Insurance.
Lakin and Weiss sued Hartford together, 10 years ago, claiming it improperly reduced payments for treatment of injuries from car crashes.
Their association in class actions ended in 2006, and they sued each other over fees.
In 2008, they settled the suits and dismissed them.
The settlement didn't pan out, and Lakin initiated arbitration this year.
Though many of their joint clients discharged Weiss in 2007, the association between him and Lakin continued in the Hartford Insurance case and a few others.
This April, Hartford agreed to pay $7.5 million to providers, insurers and beneficiaries.
Hartford agreed to pay $2.5 million in legal fees and expenses.
Stack approved the settlement in September, with a partial allocation of fees.
He awarded $250,000 each to Lakin, Weiss, and Timothy Campbell of Godfrey.
He set aside the remaining $1.75 million for arbitration.