Costs & Litigation Funding
We have particular expertise in dealing with issues of costs, including the assessment of costs following successful litigation, solicitor and client costs disputes, and litigation funding.
Cormac Cawley acted for the professional funder in the Commercial Court and in the landmark Court of Appeal case of Arkin –v- Borchard (2005) 3 All ER 613. That was a decision under section 51 of the Senior Courts Act 1981 which introduced the “Arkin Cap” and established the economic model for the current third party litigation funding industry. He also acted with success for the funder in the refusal by the House of Lords of permission to the defendants to appeal the case further. The Arkin case also involved what is understood to be the first application to the Commercial Court for security for costs against a funder pursuant to CPR Part 25.14(2)(b).
Cormac also acted for the Defendant in the recent case of Rosenblatt -v- Man Oil Group  4 Costs LO 539. This was a decision of Mrs Justice Elizabeth Laing (on appeal from Senior Costs Judge Master Leonard) on the principles to be applied in permitting a solicitors’ retainer to be varied to allow them to charge hourly rates in excess of the fixed fee which had been originally agreed.
Examples of other cases on which we have acted recently:-
- Advising Solicitors on the terms of a Conditional Fee Agreement in the British Virgin Islands.
- Section 51 claim for costs against the Director of an unsuccessful claimant company.
- Drafting a model funding agreement for a third-party funder of litigation following the Arkin case.
- Challenging Success Fee claimed by Trustees in Bankruptcy where no Notice of Funding had been served on a respondent litigant in person to a claim to reverse an undervalue transaction under section 342 of the Insolvency Act 1986.
- Acting for a client in seeking an order pursuant to section 68 of the Solicitors Act 1974 requiring their former solicitors to deliver a final statute bill so that the client could seek a solicitor and client assessment of all of the costs charged to them.
Contact our costs and litigation funding lawyers in Ruislip, Middlesex today
Please contact us today on 020 8059 9969 or complete our online enquiry form if you wish to discuss costs and litigation funding.