Loser Pays Act

Loser Pay Act - Entitles the prevailing party in any civil action brought in or removed to a court of the United States to attorney fees to the extent that such party prevails on any position or claim advanced during the action. Specifies that such fees shall be paid by the nonprevailing party. Prohibits the award of such fees unless counsel of record in the action involved maintained accurate, complete records of hours worked on the matters involved in the action, regardless of the fee arrangement with his or her client.

Limits such fee award to the attorney fees of the nonprevailing party with respect to the particular position or claim. Specifies that if the nonprevailing party received services under a contingent fee agreement, the fee award to the prevailing party shall not exceed the reasonable value of those services as determined by the court at the time the final judgment is entered.

Authorizes the court, in its discretion, to limit the fees awarded to the extent that it finds exceptional, unusual, and special circumstances that make payment of such fees unjust.