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In 1982, Mr. Syphrett and Intrastate (collectively, the
plaintiffs), as coplaintiffs, sued Mr. Wiewall in the District
Court of Harris County, Texas, seeking return of the plaintiffs'
interests in various limited partnerships (the Wiewall
litigation). The law firm of Bonham, Carrington & Fox
represented the plaintiffs in the Wiewall litigation. In 1983,
the plaintiffs, as coplaintiffs, sued Mr. Stephens and Baker,
Brown in a separate suit in the same court (the Stephens
litigation), seeking damages of at least $4.15 million and an
award of exemplary or punitive damages. Larry Doherty and his
law firm of Doherty & Williamson, P.C., represented the
plaintiffs in the Stephens litigation.
The plaintiffs entered into a written agreement (the Letter
Agreement) dated January 10, 1989, that "[set] out * * * [their]
understanding" regarding the Wiewall litigation and the Stephens
litigation. The Letter Agreement stated that the plaintiffs
hereby covenant and agree as follows:
1) Syphrett has been determined to be the client
in the * * * [Stephens litigation] and is entitled to
receive the benefits, if any, derived from such case.
Intrastate shall not seek nor receive any benefits from
said case.
2) Intrastate shall receive the benefits, if any,
derived from the * * * [Wiewall litigation]. Syphrett
shall not seek nor receive any benefits from said case.
3) Syphrett, if successful in the * * * [Stephens
litigation], shall pay to Intrastate a fee equal to the
legal cost including Salary and other fees paid by
Intrastate as of the date of this agreement. Syphrett
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