header-logo header-logo

07 May 2009 / Paul Ashurst
Issue: 7368 / Categories: Features , Public , Procedure & practice , Fees
printer mail-detail

A natural progression

Paul Ashurst plunges into the murky waters of contingency fees

* * * * * *

With Law Society approval, underwritten by an American insurer and underpinned by a specialist personal injury panel, conditional fee agreements (CFAs) were hailed as the acceptable compromise that avoided the need for American-style contingency fees. Yet the advertising slogan “no win no fee” soon created a credibility gap. The public became willing to speak to claims farmers and not solicitors because the claims farmers said yes whereas solicitors said “yes, but...”. Collateral agreements were introduced to match slogan with fact. Middlemen, who willingly jumped on the bandwagon to take their slice of the profit, provided funds and the changes to the CFA that followed that led to the disaster we have today (see Days of Yore, p 674)

All change

The public have now taken to the concept that you should only pay if you win. We, therefore, need a straightforward and transparent system that meets the public's expectations and allows legitimate claims to find suitable

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Clyde & Co—Suriya Ashok

Clyde & Co—Suriya Ashok

Clyde Co strengthens energy transition and construction offering with hire of Suriya Ashok

Jurit—Nicole Gallop Mildon

Jurit—Nicole Gallop Mildon

Jurit appoints rare dual-qualified lawyer to expand Anglo-French private wealth expertise

NEWS
The Financial Reporting Council’s revised Audit Enforcement Procedure will alter the balance of power in corporate investigations
A telecoms operator may be able to hold over under the Landlord and Tenant Act 1954, yet still be unable to secure a renewal: an outcome described as a legal ‘paradox’

Safety fears do not automatically justify shutting an interested person out of a statutory will application

Consumer credit law is heading for its biggest shake-up in 50 years, with the Consumer Credit Act 1974 set to yield much of its detailed statutory machinery to FCA rules
The Supreme Court has settled a long-running dispute over part-time workers: unfavourable treatment need be a significant or effective cause, not the sole cause
back-to-top-scroll