I love a good conspiracy theory but that kind of collusion to be able to bill a few more hours, is all risk and no gain. You don't think Syncora's internal counsel and executive team is aware that they agreed to give JPM more time? I'm sure they are tracking it closely. Syncora's counsel would have a hard time selling a story to them, if it was all for the sake of generating a few more billable hours for them or their opponents.
Plus, I've worked with a ton of lawyers at a lot of the big firms. To some degree or another, most are shady in my opinion, because they are paid to be. Their job is to one-up each other, whether it be in a court room or at the negotiation table. But I've never witnessed anyone generating hours just for the sake of seeking income for their Firm. Most of the time my experience is that they probably under-bill hours on complex cases. I just don't buy into the theory that these guys all know each other from the yacht club and thus are working together to create billale hours while sharing martinis afterwards.
