§ Rule 7-2.5 Assignment in favor of bar
Rule 7-2.5. Assignment in favor of bar
(a) Assignment as Prerequisite for Payment. As a condition precedent to the grant of monetary relief, the claimant shall make an assignment in favor of the bar of the subrogation rights or of the judgment (or the unsatisfied portion thereof) obtained by the claimant against the offending member or members of the bar, and the bar shall be entitled to be reimbursed to the extent of the amount of the relief granted with respect to such claim from the first moneys recovered by reason of such subrogation or assignment.
(b) Priority of Reimbursement to Bar. Ordinarily, as a matter of policy, however, in cases where the relief granted shall have been for less than the full amount that would have been allowable except for considerations of allocating available resources of the fund or other reasons related to the administration of the fund, the bar shall not be reimbursed for the amount of the relief granted with respect to such claim until and unless the last moneys shall be recovered by reason of such subrogation or assignment.
(c) Reassignment of Claim to Claimant. The bar shall have the right but shall be under no obligation to any claimant to seek recovery from the offending lawyer or lawyers of all or any portion of such claimant's claim; and if the bar elects not to pursue recovery, an claimant shall be entitled to receive from the bar, as the owner of the claim or judgment, a reassignment thereof sufficient to permit the applicant's collection thereof in the applicant's own name, provided that such reassignment shall reserve in favor of the bar a lien upon the proceeds of any recovery to the extent of the relief paid to the applicant from the fund. In the event of such reassignment, the applicant shall keep the bar fully informed of all the applicant's efforts to obtain recovery.
(d) Recoveries. Recoveries or repayments to the bar on account of payments from the fund will be restored to the fund.