OPINION
RABINOWITZ, Justice.
I. BACKGROUND
Bruce Cole (Cole) suffered a back injury on August 31, 1982 while working for Ketchikan Pulp Company (Ketchikan Pulp). Cole was paid disability compensation benefits for a period of time until disputes between the parties resulted in his benefits being terminated.
In January 1988, Cole's attorney, Phillip Pallenberg (Pallenberg), offered to settle Cole's claims for $150,000 plus statutory attorney...
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