Podcast Location:
Download it here [file size: 39.6 MB]
Categories:
Costs & Funding
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This two-part podcast series, with costs experts Mark Beaumont and Tom Blackburn, considers the ways in which law firms and practitioners can adapt to changes within the civil litigation funding and costs system in order to continue to attract and retain clients, increase billable hours and maximise profits.

Part One provides a summary of the current and future costs and funding position, focusing in particular on what Costs Management and the Provisional Assessment Pilot Scheme will mean for practitioners. It also considers billing methods and the future of the Guideline Hourly Rate post Jackson.

Part Two focuses on solicitors’ obligations to their clients when discussing funding options and ATE insurance, the key factors a practitioner should keep in mind when considering retainers, how the new damages based agreements will work, and what the abolition of legal aid and the recoverability of success fees and ATE insurance will mean for the way in which clients approach the option of third party funding and legal expenses insurance.

Outcomes:
After completing the course you will:
  • Know what changes to expect to litigation funding and costs in 2013;
  • Have considered the role of cost management in the litigation process and what the introduction of Costs Management Orders will mean for practitioners;
  • Be aware of the Provisional Assessment Pilot Scheme and when it will be applicable;
  • Have considered billing methods and the future of the Guideline Hourly Rate;
  • Be aware of the obligations of a solicitor towards their client regarding ATE insurance and funding options;
  • Have considered the key factors a practitioner should keep in mind when considering retainers;
  • Know how the new damages based agreements (contingency fees) will work;
  • Understand the role of third party funders and when they might be a suitable option;
  • Appreciate what the abolition of recoverability of ATE insurance will mean for the way in which clients approach legal expenses insurance;
  • Have considered some pertinent recent authorities on the subject of costs and funding.
Level:
General Interest Difficulty: 2 of 5
Classification:
Case Update
Legal Principles
Legislative Updates
Market Update / Hot Topic
Panel Discussion
Practical Guide
Procedural
Sources and References:
  • Adris & ors v Royal Bank of Scotland & ors [2010] EWHC 941 (QB);
  • Holliday v EC Realisations Ltd [2008] EWHC 90103 (Costs);
  • JN Dairies Ltd v Johal Dairies Ltd [2011] EWHC (Costs);
  • Legal Aid, Sentencing and Punishment of Offenders Act 2010;
  • Practice Direction 51D – Defamation Proceedings Costs Management Scheme;
  • Practice Direction 51E- County Court Provisional Assessment Scheme;
  • Practice Direction 51G- Costs Management in Mercantile and TCC Courts;
  • Sylvia Henry v News Group Newspapers Ltd [2012] EWHC 90218 (Costs).
Tags:

In this two-part podcast series costs experts Mark Beaumont and Tom Blackburn discuss how law firms and practitioners can best manage developments within costs and funding in order to attract and retain clients, increase billable hours and maximise profits.

NEW! TRANSCRIPT INCLUDED IN ADDITIONAL INFORMATION

Date Recorded: 12th December 2012

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