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How have practitioners responded to the Final Report? Counsel rounds up some of the comments made on the NLJ Jackson webcast
David Greene
NLJ Consultant Editor & head of the litigation & dispute resolution team at Edwin Coe LLP. NLJ Jackson webcast participant
“A lot of solicitors get their business from referral fees, agencies and management companies. If they didn’t get that business you would probably find that they would have to go out and advertise and spend the money in that way, so I don’t think it is a straight game in terms of referral fees.
Also, to some extent the before the event (“BTE”) insurance market is based on referral fees and the likelihood is that if you get rid of referral fees you may well see premiums go up on insurance because otherwise insurers are not earning through the referral fees and they will be looking to earn through the premiums, so I don’t think it is a simple picture.
Third party funders are starting to make a noise in commercial litigation. They want the big cases. At the same time solicitors are going to offer contingency fees. So we should expect that there might be a bit of a debate about whether you need third party funders, or will they combine? I think it will be an interesting market to watch if these things come about.”
Ely Place Chambers
NLJ webcast participant
“The proposals are going to make CFAs unattractive to barristers. One of the attractions in the past for undertaking work on a CFA has been success fees and, of course, it was one of the selling points at the Bar for doing CFA work, you win some you lose some, but you have the benefit of success fees to balance that risk. If success fees cease then it is not going to be very attractive. Solicitors will find it difficult to instruct barristers to act under CFAs under Jackson LJ’s proposals. Solicitors will also need to involve counsel much earlier on in the process so that counsel may be part of the general risk assessment.”
Bond Pearce LLP & NLJ webcast participant
“Claimant practitioners have greeted Jackson LJ’s recommendations with varying degrees of consternation. The high cost of PI litigation is perceived as unacceptable by Sir Rupert. Costs are to be constrained by sweeping away those practices and assumptions that permitted disproportionate costs and by imposing a radical procedural shake up that includes fixed costs for all fast track claims.”
Jackson: personal injury snapshot
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Also, to some extent the before the event (“BTE”) insurance market is based on referral fees and the likelihood is that if you get rid of referral fees you may well see premiums go up on insurance because otherwise insurers are not earning through the referral fees and they will be looking to earn through the premiums, so I don’t think it is a simple picture.
Third party funders are starting to make a noise in commercial litigation. They want the big cases. At the same time solicitors are going to offer contingency fees. So we should expect that there might be a bit of a debate about whether you need third party funders, or will they combine? I think it will be an interesting market to watch if these things come about.”
Ely Place Chambers
NLJ webcast participant
“The proposals are going to make CFAs unattractive to barristers. One of the attractions in the past for undertaking work on a CFA has been success fees and, of course, it was one of the selling points at the Bar for doing CFA work, you win some you lose some, but you have the benefit of success fees to balance that risk. If success fees cease then it is not going to be very attractive. Solicitors will find it difficult to instruct barristers to act under CFAs under Jackson LJ’s proposals. Solicitors will also need to involve counsel much earlier on in the process so that counsel may be part of the general risk assessment.”
Bond Pearce LLP & NLJ webcast participant
“Claimant practitioners have greeted Jackson LJ’s recommendations with varying degrees of consternation. The high cost of PI litigation is perceived as unacceptable by Sir Rupert. Costs are to be constrained by sweeping away those practices and assumptions that permitted disproportionate costs and by imposing a radical procedural shake up that includes fixed costs for all fast track claims.”
Jackson: personal injury snapshot
Out
In
How have practitioners responded to the Final Report? Counsel rounds up some of the comments made on the NLJ Jackson webcast
NLJ Consultant Editor & head of the litigation & dispute resolution team at Edwin Coe LLP. NLJ Jackson webcast participant
“A lot of solicitors get their business from referral fees, agencies and management companies. If they didn’t get that business you would probably find that they would have to go out and advertise and spend the money in that way, so I don’t think it is a straight game in terms of referral fees.
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