The cost of resolving a dispute can be substantial, sometimes outweighing the value of the dispute itself.
To help clients manage the costs, our Dispute Resolution department offers a range of funding options. From traditional ‘pay by the hour’ arrangements to fixed fees in certain situations, our aim is to take the uncertainty out of the costs of litigating and, where appropriate, to share the risk with you.
Our Range of Flexible Funding Options Includes:
- Conditional Fee Agreements (CFAs)
Otherwise known as ‘no win, no fee’ agreements, we accept a lesser fee, or no fee at all if you lose the case. If you win, you pay us a ‘success fee’ on top of our standard rates.
- Damages-Based Agreements (DBAs)
Under a DBA you pay us a percentage of the amount you recover from the claim. It is usually 50 percent, but can’t be any more than that. If you recover nothing, you pay us nothing.
- Pre-proceedings Contingency fees
This is a variation of a DBA which can only apply before proceedings begin. Once a case goes before the courts, a formal DBA is required.
- Fixed fees
We may be able to agree a fixed fee for each stage of a case, using a set of assumptions that we agree with you in advance. As the dispute progress, we agree another fee for the next stage of work.
- Third-party funding
Third-party funding is where a venture capitalist provides the funds to pursue a claim. In return, they ‘buy’ a percentage of any amount recovered. This is mostly an option in cases where the potential value of the recovery is high.
- Insurance (both before and after the event)
The risk of having to pay the other side’s costs is a major consideration when evaluating the risk associated with legal action. We can provide advice on both ‘before the event’ and ‘after the event’ insurance to help you manage the risks and protect your funds.
Whatever your situation, whatever your budget, we will work with you to find a fee option that best suits your needs and allows you to pursue legal action to protect your commercial interests.
Partner & Head of Dispute Resolution & Insolvency