*/
Plans to cut conditional fee agreements (“CFA”) success fees for libel cases by up to 90 per cent have been dropped owing to lack of Parliamentary time.
The controversial plans, which were opposed by many claimant libel lawyers, would have capped the success fee chargeable in CFAs from a maximum 100 per cent to ten per cent. The reforms had previously failed to pass the committee stage in the House of Commons after four labour MPs joined opposition parties to vote it down.
Claimant libel lawyers have criticised the reduction to a ten per cent success fee on the basis that solicitors would be unable to bear the risk of bringing many otherwise deserving cases. They say that in practice the lawyer never recovers the full costs involved.
They have also pointed out that the risk is staged, with the 100 per cent success fee only applying at trial and most cases settling at an early stage in proceedings. This has the benefit that lawyers need carefully to assess the risks involved at every stage.
The Law Society has called for substantial research and consultation before any further proposals are put before Parliament. Robert Heslett, President of the Law Society, said: “Attempting to rush legislation, delegated or otherwise, through Parliament fails to consider the impact it can have.”
All three of the main parties have pledged to reform the libel laws after the general election.
Claimant libel lawyers have criticised the reduction to a ten per cent success fee on the basis that solicitors would be unable to bear the risk of bringing many otherwise deserving cases. They say that in practice the lawyer never recovers the full costs involved.
They have also pointed out that the risk is staged, with the 100 per cent success fee only applying at trial and most cases settling at an early stage in proceedings. This has the benefit that lawyers need carefully to assess the risks involved at every stage.
The Law Society has called for substantial research and consultation before any further proposals are put before Parliament. Robert Heslett, President of the Law Society, said: “Attempting to rush legislation, delegated or otherwise, through Parliament fails to consider the impact it can have.”
All three of the main parties have pledged to reform the libel laws after the general election.
Plans to cut conditional fee agreements (“CFA”) success fees for libel cases by up to 90 per cent have been dropped owing to lack of Parliamentary time.
The controversial plans, which were opposed by many claimant libel lawyers, would have capped the success fee chargeable in CFAs from a maximum 100 per cent to ten per cent. The reforms had previously failed to pass the committee stage in the House of Commons after four labour MPs joined opposition parties to vote it down.
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
Giovanni D’Avola explores the issue of over-citation of unreported cases and the ‘added value’ elements of a law report
Louise Crush explores the key points and opportunities for tax efficiency
Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
Is now the time to review your financial position, having reached a career milestone? asks Louise Crush
If you were to host a dinner party with 10 guests, and you asked them to explain what financial planning is and how it differs to financial advice, you’d receive 10 different answers. The variety of answers highlights the ongoing need to clarify and promote the value of financial planning.
Most of us like to think we would risk our career in order to meet our ethical obligations, so why have so many lawyers failed to hold the line? asks Flora Page
If your current practice environment is bringing you down, seek a new one. However daunting the change, it will be worth it, says Anon Barrister
Creating advocacy opportunities for juniors is now the expectation but not always easy to put into effect. Tom Mitcheson KC distils developing best practice from the Patents Court initiative already bearing fruit
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
The long-running fee-paid judicial pensions saga continues. The current cut-off date for giving notice of election to join FPJPS is 31 March 2024, and that date now gives rise to a serious problem, warns HH John Platt
