Quigg Golden Solicitors operates in England, Wales and the Republic of Ireland, and has built a reputation for handling litigation matters in a responsive, efficient and cost effective manner. Our ability to deal with complex construction and procurement matters means we are equipped to deal with all types of litigation in a manner that reflects our client’s commercial needs.
A common theme is that a client will have a really good claim where they believe they are entitled to significant damages, but they are unable to embark on litigation as they do not have sufficient funds to finance it. Liability for a client’s own and an opponent’s legal costs, will be one of the biggest concern of any person/business/corporation involved in a dispute.
This is where Quigg Golden has been invaluable to its clients because of its extensive knowledge of litigation funding arrangements and the relationships it has with insurance brokers, barristers and experts, prepared to accept instructions under these funding arrangements. A summary of how litigation can be funded in the High Court and Technology and Construction Court include:
A Conditional Fee Agreement (“CFA”), also known as a ‘no win, no fee’, is an agreement between Quigg Golden and a client, where the client agrees to pay our fees at a lower hourly standard rate, with our full hourly rate being deferred until the conclusion of the claim. The CFA will also include an uplift, known as a ‘success fee’ for deferring part payment of our fees.
Quigg Golden can also enter into an arrangement with the client who can either make a one-off interim payment at the commencement of the claim with payment of our fees in full, once the claim has settled, or Judgment is obtained. The arrangement Quigg Golden decides to enter into will be reviewed on a case-by-case basis as every claim will be unique.
Third Party Funding is available via an insurance broker, where a person/corporate body unconnected with the client or the claim, is willing to ‘buy into’ the prospects of the client’s success, upon being paid a percentage of the client’s damages if successful.
Damage Based Agreements are entered into with a client and Quigg Golden, where they will be paid a percentage of the client’s damages. Quigg Golden and the client share the risk. No fee will be payable if the client is unsuccessful. Quigg Golden would only enter into such an arrangement if a client provided high volume, repeat work and an interim payment on account.
An After the Event Insurance policy (“ATE”) runs alongside a CFA. An ATE policy is used to cover its client’s disbursements from inception up until a trial.
An ATE policy covers significant disbursements such as barrister’s fees, mediator’s and expert’s fees. An ATE insurance policy, takes away the financial burden of paying the opponent’s costs if the claim is unsuccessful. ATE cover offers safeguards against this risk and can be purchased at the commencement of a claim or before a trial.
An ATE insurer will want the client to have prospects of success of 60% or over, although some insurers may provide cover if lower. ATE insurance is available to both Claimants and Defendants.
Quigg Golden will undertake a risk assessment. If a claim is for a significant amount of money, both the solicitor and the ATE insurer, will require a written Opinion from Junior or Leading Counsel. An estimate of the client’s legal cost and disbursements is required as the ATE insurer will need to know the level of cover a client will require for disbursements and an estimate of the opponent’s legal costs, so that the client is indemnified in the event that their claim is unsuccessful. If ATE cover is provided, you are also able to ‘top up’ the level of cover if the initial cost estimate has been exceeded because of unforeseen circumstances.
Over the years, Quigg Golden has formed good working relationships with the leading brokers and insurers and has gained a wealth of experience on how different options work in practice.
We believe our approach to litigation funding sets us apart from other law firms. We have been offering this service to our clients for over a decade and have formed good working relationships with brokers and insurers.
If you have a construction dispute in the Technology & Construction Court or High Court please contact: Teresa Johnston, Senior Associate, London and Maidstone Office.
Locations Service is Available
London, Maidstone, Dublin
Teresa Johnston, Robert Burns, James Golden, Edward Quigg