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In Re Austrian and German Bank Holocaust Litigation

Court awards law firms $1.4 Million in fees for Holocaust class action against Austrian banks.

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Judge Kram

IN RE AUSTRIAN AND GERMAN BANK HOLOCAUST LITIGATION — Counsel for the Austrian Bank Settlement Class move for an award of attorneys’ fees and reimbursement of expenses.1 Plaintiff Walter Steven Zeisl (“Zeisl”), a member of the Austrian Bank Settlement Class, opposes the award of any fees or reimbursement of expenses to Class Counsel because they allegedly violated ethical and fiduciary obligations owed to the Austrian Bank Settlement Class. In response, Anderson Kill & Olick, P.C. (“Anderson Kill”), Kohn, Swift & Graf, P.C. (“Kohn Swift”), Edward D. Fagan, Esq. (“Fagan”), and Carey R. D’Avino, Esq. (“D’Avino”), submitted a memorandum in support of an award of fees and expenses. Plaintiff Peter Georgi (“Georgi”), as a member of the Austrian Bank Settlement Class and a pro se litigant, also moves for an award of attorneys’ fees and reimbursement of expenses for himself. Defendants Creditanstalt AG and Bank Austria AG (collectively the “Austrian Banks”), Kohn Swift and Anderson Kill oppose Georgi’s motion. Kohn Swift and Anderson Kill also oppose the request by Cohen Milstein Hausfeld & Toll, P.L.L.C. (“Cohen Milstein”) for reimbursement of expenses. For the reasons set forth below, Georgi’s request for fees and reimbursement of expenses is denied, and attorneys’ fees and expenses are awarded to some members of Class Counsel for the Austrian Bank Settlement Class.

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