14 December, 2012

Funding costs

Filed UnderLegal Costs  

Quick update on the issue of how long it will take before bills of costs stop claiming for work relating to funding in light of Court of Appeal’s judgment, on 12 October 2011, in Motto & Others v Trafigura [2011] EWCA Civ 1150.

The answer appears to be in excess of 14 months.

I'll keep you updated.

Comments

6 Responses to “Funding costs”

  1. Richard on December 14th, 2012 11:24 am

    Clients won’t let me leave it out :-(

  2. John Hartson on December 14th, 2012 12:14 pm

    Why do the Defendant’s job for them? Keep it in I say.

    Also, a lot of Defendant cost draftsmen get paid on percentage reductions. Surely it would be more financially beneficial if the funding work was in there in the first place for you Defendants to remove.

    Just sayin’

  3. Cockney Rebel on December 14th, 2012 1:47 pm

    I was recently asked to advise upon a bill where counsel had charged base costs of several hundred pounds and a success fee of 100%. Counsel`s CFA confirmed base costs should be £125 and the CFA and statute confirmed the success fee should be 25%.

    How ironic that on another day in another case that counsel could be defending a yob who has stolen £5 from an old lady.

    Just sayin`

  4. Anon. on December 14th, 2012 1:52 pm

    Agreed.

    Draw the most excessive bills the legal profession has ever seen so defendants can get paid more. It makes perfect sense.

    Kudos to the volime RTA solicitors charging £220.00 per hour for a “Grade C” fee earner.

  5. Anonymous on December 19th, 2012 2:11 pm

    Happy Xmas everyone. Cant wait for the New Year – bring it on we are ready and waiting!!!

  6. Pete B on December 19th, 2012 4:11 pm

    And to you Anonymous.

    You’re not Otto Thoresen are you?

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