Preferred Investments, Inc. v. T&H Bail Bonds

In Preferred Investments, Inc. v. T&H Bail Bonds, 2014 WL 1292362 (Del. Ch. March 25, 2014) the Court of Chancery awarded attorney fees of $287,339.99 on damages of $45,924.88. Moreover, in Preferred Investments, Vice Chancellor Parsons implicitly rejected the argument that Gillen advances here: that the reasonableness of a fee request can be determined by looking to the standard for a contingency fee (one third of awarded damages). In Preferred Investments, the court acknowledged the defense's request to tie the award of fees to the normal contingency rate, but then wholly ignored the argument, and instead turned to Rule 1.5 for guidance on reasonableness.