Contact our offices
Make an enquiry
How can we help?
In appropriate cases our commercial litigation solicitors may be able to offer you a damages based agreement as a funding option. This funding option has only been available in commercial cases since April 2013. A damages based agreement is an agreement between Stephensons and you, whereby you agree to pay a percentage share of the damages if the case is won against the opponent. Under this agreement we would normally require payment either if sums are recovered through settlement or after the case has gone to court.
A damages based agreement is a suitable option because they have the advantage of limiting the impact on cash flow. This is because you only pay expenses such as barristers fees until sums are recovered; at this point you then pay our fees.
loading staff
With a damages based agreement, we will take a percentage of damages recovered if we win. We would pay expenses such as barristers costs out of that percentage. We would receive no fee during the case. If you lose we would not receive any fees. If you are successful, and the other side has gone into administration or has no assets, again we would not be paid.
The success fee is the percentage of damages we will charge in the event that you are successful in your claim and recover damages from your opponent, either as a result of a trial or by settlement. We will agree with you what is considered success and consequently when we will then be paid. We will also agree the percentage of damages we can receive. There is also legislation that outlines the maximum percentages that can be charged for certain cases.
If you lose, you do not pay our fees. In the rare instance when a case is lost at trial, we can provide clients with insurance protection from having to pay legal costs to opponents.
Damages based agreements are a particularly suitable option where the case has a high monetary value and there are good prospects of recovery. Call us today on 01616 966 229 to see if this option could assist you with financing your litigation claim, alternatively please complete our online enquiry form and a member of the team will contact you directly.
We're Great
It is our business to deliver legal services that work for our clients, and you can trust our specialists to take care of things on your behalf.
Government brings in new restrictions on winding up petitions
As the previous restrictions preventing any creditor from presenting a winding up petition to the court expired on 30 September 2021, new legislation has now been put in place, in a further effort to reduce the number of companies being wound up by the...
Twitter commercial
@CommercialLLP
Stephensons secure a shortlist hattrick at the Modern Law Conveyancing Awards
The national law firm, Stephensons has been shortlisted in three categories at the forthcoming Modern Law Conveyancing Awards . Stephensons is in contention for Regional Conveyancing Firm of the Year – North of England, as well as National...
Commercial reorder
