Funding litigation can be expensive and dealing with legal costs is often the source of considerable concern for any party involved in a dispute. We hope to alleviate these concerns by offering our clients a bespoke funding package that meets their own unique needs and circumstances. We will work with you to find ways for you to cover the costs of litigation.
Potential funding options might include Third Party Funding, Conditional Fee Agreements, Damages Based Agreements, Fixed Fees and Legal Expenses Insurance. We would be happy to discuss the potential options with you, should you be interested in instructing us to pursue or defend a claim. We will take time to consider each of the funding options that might be suitable to meet your individual needs (this might include speaking with a funding broker with specialist expertise in this area).
GENERAL COST PRINCIPLES
During the course of the litigation, each party will be responsible for his or her own costs. At the end of the case the judge will decide which party should pay the costs of the litigation. The usual rule is that the losing party will pay the costs of both parties however this is not set in stone. In particular, procedural breaches and/or the conduct of the parties could result in sanctions being imposed by the judge and impact significantly on any costs award made. Parties are also able to make what is called a Part 36 offer to settle during the course of the proceedings, which could also impact on the cost position.
Our fees are billed at standard hourly rates on a time spent basis, plus disbursements and VAT.
DEFERRED PAYMENT PLAN
In some types of litigation we may be able to reach an agreement whereby we defer payment until a time when certain proceeds are realised or the matter is concluded. This type of funding option can be particularly useful for contentious trust and probate cases where money is tied up in the deceased’s estate.
It may also be possible to obtain a loan from a third party to fund the litigation. We are able to assist with identifying a suitable lender.
FIXED FEES AND CAPS
Keeping clients regularly updated of the cost position at each stage of a case is a given but in some instances we are able to provide certainty of these costs by offering fixed fees or a cap on the level of fees that might be incurred.