Category Archives: Commercial Litigation
Litigation Funding Reforms come into force
A radical overhaul of litigation funding comes into force on 1 April 2013, by virtue of provisions in the Legal Aid Sentencing and Punishment of Offenders Act 2012 (LASPO). The legislation gives effect to many of the proposals of Lord Justice Jackson in his report of January 2010, the purpose of which was to review the costs of civil litigation. Of particular significance to “no win no fee” funding is the fact that, where the reforms apply, it is no longer possible to recover from a losing opponent a success fee or After The Event [ATE] insurance premium Continue reading
FSA Pilot Findings
The Financial Services Authority today released its findings following the pilot review of the sale of interest rate hedging products. The pilot reviewed 173 sales to “non-sophisticated customers” of Barclays, HSBC, Lloyds and RBS. Each bank has appointed an independent reviewer who interviewed customers in what was promised to be a “customer-centric” process. Continue reading
The effect of contractual non-reliance provisions in claims brought against financial institutions
This article examines the latest approach of the courts to “acknowledgments of non-reliance” and the related development of the doctrine of contractual estoppel. As will be seen, the recent case law in this area has predominantly concerned misselling claims by investors against financial institutions. Continue reading
“No-Win, No-Fee” Reforms Delayed
The Ministry of Justice has this week announced that the implementation of its controversial reforms to “no win, no fee” (conditional fee) agreements will be deferred by six months to April 2013.
The reforms, which appear within part two of the Legal Aid, Sentencing and Punishment of Offenders Bill, currently at the committee stage in the House of Lords, were expected to be implemented in October this year, and the delay follows one previously announced at the end of last year to the legal aid reforms in part one of the Bill.
Continue reading
No-Win, No-Fee – No More?
In 1999, changes to the rules on litigation funding opened up the possibility of bringing a wide range of cases under Conditional Fee Agreements (or ‘no-win, no-fee agreements’ as they are colloquially known). At a time of legal aid cuts, the changes were intended to ensure access to justice for all; not just for the wealthy.
Carter-Ruck was one of the firms which pioneered a CFA scheme which over the years has allowed us to act for hundreds of litigants who would not otherwise have been able to afford to bring an action.
