A law firm’s financial arrangement for representing Duane Reade in terminating its contract with an automated teller machine supplier did not provide for payment of a “success fee” above the $1 million flat fee, a divided state appeals court decided yesterday.
The Appellate Division, First Department, ruled 3-2 that Kasowitz, Benson, Torres & Friedman’s agreement with Duane Reade provided only for the $1 million flat fee and a 20 percent success fee on any money the drug store chain recouped over $4 million on its settlement with its old ATM supplier, Cardtronics.
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