No. Participation is voluntary. You may participate through the UCC, retain Baker & Associates, hire your own attorney, or take no action.
Baker represents clients in litigation asserting claims against UMB and others relating to entrance fee recovery and lien rights.
No. The agreement provides for contingency-only compensation. There are no hourly fees for prosecuting the litigation.
Only in limited circumstances after standing is granted, and only from any recovery if there is recovery above baseline amounts.
30% (35% if appeal), reduced to 20% if more than 30 clients and 15% if more than 60 clients.
Only recovery above the $7.4M UCC allocation + $12M Rent Rebate Fund.
No. The firm does not take any contingency fee on the $7.4M UCC allocation + $12M Rent Rebate Fund.
It means only additional recovery above the $7.4M UCC allocation + $12M Rent Rebate Fund.
No. There is no fee unless additional recovery is obtained.
Expenses are paid only from recovery and only if the firm is successful.
Recovery is allocated among clients based on their claims and a pro rata distributions.
Estates do not receive rent rebate funds. Fees apply only to recovery above the $7.4M UCC allocation + $12M Rent Rebate.
It may be the only path to recovery of entrance fees because the Baker motion asserts lien rights for former residents and estates.
The UCC represents unsecured creditors generally, while Baker represents individuals and asserts individual lien rights. Whether the UCC will be allowed to represent creditors with secured claims will be determined by the bankruptcy court from the March 25 hearing.
Possibly
Likely through contingency arrangements or court-approved funding, as UCC budgets are limited.
Yes. More participants reduce contingency percentages and strengthen claims.
No. Litigation outcomes are uncertain. There is no guarantee of any recovery.
The firm is paid only if it creates recovery above the $7.4M UCC allocation + $12M Rent Rebate.
Filing a Proof of Claim is critical to preserve your rights in the bankruptcy case.
Yes, if you request it. The firm offers an optional service to prepare and file a Proof of Claim for a flat fee of $500 per client.
No. The contingency engagement is limited to the litigation. Proof of Claim services are handled under a separate, limited engagement agreement. If you want help with your proof of claim, contact Baker & Associates.
No. You may file your own Proof of Claim, use another attorney, or request the firm to handle it under the separate engagement.
The Proof of Claim service is optional, flat fee ($500), separate from the contingency litigation, and available only if you choose to engage the firm.