Fixed fees are becoming increasingly popular in the transactional world but in the wake of Jackson and the debate about third-party funders, litigators are also becoming more at home with the set-up.
Take Nabarro. The firm is set to become one of the first in the UK to formally embrace fixed-fee structures for its disputes work. A new regime, currently in the pipeline, will offer a single price for an entire dispute agreed at the beginning of the case.
As part of the new scheme, Nabarro will look to break down mandates into smaller chunks, applying different pricing estimates to each part.
It’s a bold move, seeing the firm loudly declare that it is willing to share the pain of its clients. But it’s also a litmus test to see just how well this approach might lend itself to a case with numerous twists and turns. The long-running Ablyazov case, for example. Or the complex Tchenguiz saga.
No doubt other firms are also tinkering with similar set-ups as the fixed fees for disputes picks up pace.
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