Burford bids to bypass uncertainty in DBA regulations with ‘hybrid’ product
Burford Capital yesterday formally launched its ‘hybrid DBA’ that enables law firms to use damages-based agreements without the risk of falling foul of the regulations which govern them.
Ramsey backs allowing hybrid DBAs
The rules on damages-based agreements should be changed to free up solicitors to offer a mixture of contingency fees and hourly rates in commercial cases, the judge in charge of Jackson implementation said this week.
Top silk warns solicitors that DBAs could land them in front of disciplinary tribunal
Solicitors advising on damages-based agreements should make detailed notes at the time agreement is made in case they are later accused of exploiting the client, one of the leading barristers in solicitors’ regulation has advised.
LSB tells ombudsman to monitor complaints about damages-based agreements
Continuing concern over the potential for mis-selling damages-based agreements has led the Legal Services Board to order the Legal Ombudsman to monitor the complaints it receives in relation to them.
Legal Ombudsman: "easy" to see legal expenses insurance becoming compulsory
It is “easy” to imagine a world where legal expenses insurance becomes mandatory in the same way that car insurance is, the Chief Legal Ombudsman claimed today. Adam Sampson said they would also be keeping a close eye on how DBAs develop.
Opt-in collective actions in competition cases move closer
The government yesterday pressed ahead with plans to allow consumers and businesses to bring opt-out collective actions for breaches of competition law – but indicated that they are not yet a done deal.
LSB calls for regulator focus on DBA ‘mis-selling’ risk
The Legal Services Board has decided against introducing guidance on how regulators should mitigate the risk of damages-based agreements being mis-sold after the regulators said they will tackle it through their regulatory frameworks.
Ramsey: costs management limits being reviewed
The £2m limit above which commercial cases are not subject to automatic costs management is being reviewed, the judge in charge of Jackson implementation has revealed, while also hinting that pre-issue costs may come within costs management in future.
