Professor Dominic Regan

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Transcript Professor Dominic Regan

Introduction to Costs &
Maximising Profit Webinar
Professor Dominic Regan
Teresa Aitken, Costs Lawyer
Introduction
The Speakers…….
Professor Dominic Regan
Professor at City University, London, columnist for
New Law Journal and special adviser to the ACL
Teresa Aitken, Costs Lawyer &
Managing Director of PI Costing Ltd
Agenda
• Introduction
• Maximising Costs
• Costs Law Update
Question
Retainers How can I avoid the
pitfalls?
PRIVATE CLIENT
Q - What do I need to bear in mind?
1.
2.
3.
4.
Send up to date letters
Include all Fee Earners
Be careful of any initial retainer
Change of Fee Earner
LEGAL AID
Q - What do I need to be aware of?
1.
2.
3.
4.
5.
Retainer on file for pre Legal Aid work
Check the scope
Correct Defendant?
Costs limitation?
Discharge of Legal Aid
BTE – LEGAL EXPENSE INSURANCE
Q - What do I need to be aware of?
1. Letter to Claimant primarily liable for costs?
2. Limit of indemnity
3. Financial printouts
CFA
Q - When do I need to serve a Notice of Funding?
1.
2.
3.
4.
5.
Notify Defendant in LOC
DO NOT disclose level of success fee
Serve on all parties
File further Notice if any changes
Staged Premium – notify Defendant
CFA
Q - What happens if I have not provided a Notice of
Funding?
1. Additional liabilities not recoverable
2. File ASAP
3. Apply for Relief of Sanctions
CFA
Q – What should I bear in mind when setting a success
fee?
•
•
•
•
Contemporaneous file note detailing risks
Actuarial data on the lost cases
Staged Success Fees
Forgotten uplift! A & B
CFA
Q – Is there anything else I should be aware of when
entering into a CFA?
1.
2.
3.
4.
5.
CFA Signed
Cover all work done
Refer to the correct Defendant?
Client under the age of 18 when signed
Right to cancel
CFA
Q – Can I have a retrospective CFA?
YES, however:• Needs to be carefully worded
• Cannot be simply backdated
COSTS ESTIMATES
Q – When is a Costs Estimate normally required?
At the Allocation and Listing stage
COSTS ESTIMATES
Q. Is it important that the estimate is accurate?
• Yes
• 20% rule
COSTS ESTIMATES
Q. What should I do if my estimate becomes
inaccurate or is likely to be substantially exceeded?
Notify the Defendant and provide a revised
estimate
Q. Costs budgeting is coming soon – what do I need
to know?
Multi track cases
1 April 2013
Q. How can I get the Right Costs Order
•
•
•
•
•
Be precise and clear
Claim indemnity costs
Multiple Defendants
Provision for Costs ‘assessed forthwith’
Costs ‘of occasioned by the application’
Q. Interim Payments – how can I get one?
•
•
•
•
Seek at the time of settlement/final hearing
CPR 44.3(1)(c) and CPR 44.3(8) 3
Mars UK v Teknowledge Ltd (1999) 2 Costs LR 44
CPR 47.15
How can I maximise my costs?
FILE NOTES
• Make one
• Brush and another v Bower cotton & Bower
(a firm) ( 1992) Costs LR ( core)223
• Neater file = more £££
• Real time
ESTIMTED TIME
BAD NEWS
Johnson v Reed Corrugated Cases Ltd (1992)
ALL ER 169 QBD
GOOD NEWS
Re Frascati (in chambers) (2 Dec 1981,
unreported QBD)
Items likely to be challenged:
•
•
•
•
Block time spent
Preparation
Review
Further amendments
ESTIMTED TIME
Items likely to be challenged:
• Funding – setting up CFA/ATE policy
• Duplication between Fee Earners
• Travel to attend Client (unless there are good
reasons e.g. Client immobile etc)
7 PILLARS OF WISDOM
CPR 44.5(3)
1. Conduct
2. The amount
3. The importance
4. Complexity
5. Specialised knowledge
6. Time spent
7. The place
PROPORTIONALITY
Q. Is there going to be a new ‘proportionality’ test?
Yes, from April 2013: 44.4(5)
SUMMARY
DON’T leave costs issues until the end of the
claim
Use our checklist before settling damages
Case Law Update
Professor Dominic Regan