Many businesses are facing challenging times. The economic impact of the current climate may last up to 12 months. Sadly, some businesses already in distress will not survive and insolvency is inevitable. For others, the possibility of insolvency is ever...
There is still a lack of proper information available to clients facing a dispute, particularly when it comes to funding and risk management.
A conditional fee agreement can be full or part funded. A partial conditional fee agreement means that you or a third party funder pays a portion of the costs throughout the case and the remainder is our share of the risk in your case. The benefit of this arrangement is that the success fee is lower on a win, reducing the success fee amount payable on success (which is no longer recoverable as part of your legal costs even if you win the case).
In many cases we are able to share risk with clients and also provide insulation from risks involved in litigation, for example we have access to the most competitive after the event litigation insurance rates available. When we are able to share risk with you, some of our fees are only payable if the case is successful. When a case is successful, our standard fees are payable along with a success fee.
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.