*/
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
Out
In
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.
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