DBAs

Funding update: third-party backing for credit card claims, DBA insurance launch and more

Mark Humphries

City law firm Humphries Kerstetter has secured third-party funding to launch of a new wave of claims against MasterCard and Visa on behalf of a host of companies. The move follows the firm’s recent negotiation of a series of settlements with the card schemes on behalf of Tesco and WH Smith.

June 1st, 2017

London firm secured third-party funding to bring first group action against VW – and on a DBA

Volkswagen logo

London law firm Harcus Sinclair – acting under a damages-based agreement and supported by Slater & Gordon – has secured third-party litigation funding to start the first group litigation arising from the Volkswagen emissions scandal.

January 9th, 2017

City minnow’s risk by taking major case on DBA pays off

Richard Spector

A small City law firm that took on a major case on a damages-based agreement is set to receive one of the largest pay-outs yet under this still novel form of funding after the High Court awarded its client nearly £9m in damages and interest.

December 22nd, 2016

CJC outlines reforms to make DBAs more popular – but holds back over hybrid agreements

Rachael Mulheron

The Civil Justice Council working party on damages-based agreements has fallen short of calling for hybrid agreements to be allowed, but told the government that if it wants to ban their use, “then it owes it to the legal marketplace to make that entirely plain”. But it did recommend that recoverable costs should be excluded from DBA caps.

September 2nd, 2015

Dyson’s “disappointment” as MoJ rules out hybrid DBAs

Lord Dyson

Lord Dyson, the Master of the Rolls, has expressed his disappointment after the Ministry of Justice announced that it had “ruled out” the introduction of hybrid damages-based agreements.

November 10th, 2014

Jackson outlines two-pronged strategy to promote DBAs

jackson_lj_standing

Lord Justice Jackson this week called for an end to the indemnity principle and for lawyers to lobby the government on the need for hybrid damages-based agreements (DBAs).

October 24th, 2014

Barristers struggling with costs budgeting, survey finds

calculator

Large numbers of barristers are struggling with costs budgeting, with some submitting budgets without even seeing the papers, Bar Council research has shown. It also found that barristers are now much more wary of taking work under CFAs.

September 19th, 2014

Costs budgeting at risk from “inconsistency and lack of expertise” of judges, report finds

Royal Courts of Justice

The biggest threat to the success of costs budgeting comes from the “inconsistency and lack of expertise” of the judges involved, a report commissioned by the Civil Justice Council has concluded.

May 28th, 2014

London litigators lament post-Mitchell “game playing”

Francesca Kaye, LSLA

The rigidity introduced by the Mitchell judgment has fractured co-operation between solicitors, while costs budgeting has driven up law firms’ costs, according to a survey of civil litigators.

April 4th, 2014

Government to make announcement on campaign for DBA changes “soon”

Big Ben

An announcement on whether the regulations governing damages-based agreements are to be changed is expected shortly, a major conference on the first year of the Jackson reforms heard on Friday. The extension of fixed recoverable costs is also on the government’s agenda.

March 24th, 2014

Blog

Hands up who knows what litigation financiers sell?

A#1000

If your answer was ‘money’, you would be correct but sadly out of step with the prevailing thinking. If, however, you asked some other litigation financiers the same question, you would very likely receive answers like ‘project management skills’, or ‘an experienced litigation partner’. Whilst none of these answers are wrong per se, they do rather miss the point of why lawyers and clients engage with funders. Experienced and successful litigators do not want the views of litigation financiers on how to project manage their litigation – they want access to their cash pure and simple.

October 19th, 2017

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John M Hayes

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