The cost of pursuing a legal dispute can be a serious deterrent to a commercial organisation that has a good claim to make. We offer our clients a funding solution that provides certainty and transparency on costs and removes the risk of pursuing the dispute from a company’s balance sheet.
This offers a different way to meet the legal and related costs of a legal dispute. Usually, lawyers’ fees and other costs are invoiced to the client at intervals whilst the claim is in progress. Such costs must be paid, whether or not the claim is eventually successful.
How does the funding solution work?
To assess whether the funding solution is right for your claim, we will discuss and review your case by phone at no charge. If our funding solution is potentially right for both you and for us, we will then undertake an initial, thorough appraisal of your claim usually for a fixed fee. Our appraisal report will include an assessment of the legal and factual merits (which may include an opinion from a barrister); expert opinion on technical issues of your claim or the amount of your loss (if required); and whether we will take on the claim under what is known as a “damages-based agreement”. We will also form an opinion on the ability of your opponent to pay the damages we believe may be due (as it does neither of us any good to pursue someone without the ability to pay).
What is the benefit of a damages-based agreement?
Under this agreement, if your dispute is successful and you win your claim, you agree to pay us a percentage of the total amount that is successfully recovered. We will pay everyone else who is needed for your claim, including barristers, experts, court fees, insurance premiums and all other costs. However, if your dispute is not successful, you will pay us nothing other than the fixed fee for the initial appraisal. In this sense, the fee structure is “no win, no fee”.
If you decide to proceed with your legal dispute on this basis, we will keep the merits of the case under review and regularly update our initial report. We will also take out insurance for your benefit that will pay out against a claim for costs against you if you should lose. Clearly, neither of us want or expect to lose but there is never any guarantee and we seek to protect you against that, hopefully remote, eventuality.
Your claim will be led by an appropriate and highly experienced Fox Williams partner, who will draw on a wider team as required to progress your case effectively.
What happens if the situation changes?
Should you decide not to pursue your claim you will only pay for the initial appraisal. If you decide to settle your claim, we will assist you with settlement discussions.