Funding Arrangements - How to Get Paid, Keep the Client Happy & Avoid an SRA Breach

Introduction

This virtual classroom session is a must for all practitioners involved in civil litigation. Complying with the SRA Code of Conduct is important to avoid a breach but also in ensuring that the client is happy and you get paid.

Amongst the funding options, CFAs are now widely used in defamation actions and commercial claims, not just personal injury and are a serious option for all types of civil litigation. The introduction of Damages Based Agreements (contingency fees) has provided a further option for funding but the multitude of court decisions continue to create traps for the unwary, and will the government step in to resolve the 2013 regulations which were not fit for purpose?

What You Will Learn

This interactive broadcast will cover the following:

• Discover why R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others [2023], decided that any funding agreement that provides for a return based on a proportion of the damages recovered will be a DBA and the dramatic consequences this decision has for litigation funding
• The Litigation Funding Agreements (Enforceability) Bill and how this has been debated so far, in seeking to reverse PACCAR
• What are the terms of reference set by The Civil Justice Council in their grass and roots review of litigation funding, in making recommendations for reform
• How the SRA Code interacts with various funding arrangements
• Providing clients with the most accurate costs information from day one
• Funding arrangements and recoverable costs
• The current CFA regime and model agreement
• Is risk assessment still relevant?
• Fixing success fees - a single figure or staged?
• Are CFA Lite and the Discounted CFAs still realistic options?
• How do Damages Based Agreements (DBA) work?
• What are the factors that will decide whether it is better to use a CFA or a DBA?
• The role of Before the Event and After the Event insurance
• Third Party Funding - what is it and how does it work?
• Is Third Party Funding only for very large cases?
• All the latest funding cases
• Understanding the SRA Pricing Transparency Rules and how to comply, without affecting profitability
• What does the future hold?

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.