Fixed recoverable costs (FRC) is the issue du jour, with the new regime due to begin on 1 October. In this week’s NLJ, Liam Tolen, senior associate at Ashfords, looks at FRC from an in-house perspective. What do general counsel and in-house legal teams need to know, are there any benefits, how will it affect settlements, and how can they prepare?
‘The new fixed recoverable costs (FRC) regime is arguably the most significant reform to civil procedure in a generation,’ Tolen writes. ‘It does not tinker around the edges; it is wholesale reform.’
As for the potential advantages, Tolen identifies several, including that FRC should provide more certainty. Tolen says: ‘Better than ever before will a business contemplating bringing a claim be able to answer the question: is the juice worth the squeeze?’
Tolen looks at the likely impact of FRC on solicitors’ fees, suggests an aspect of this that is likely to cause confusion, and highlights various practical aspects of the new regime, in this handy, concise and highly practical article—read it here.
