Skip to content

UK Contigency Fees: a good look? April 15, 2016

Bolt Burdon Solicitors v Aijaz Tariq Azeem Tariq Amees Tariq [2016] EWHC 811 (QB)

  1. This is a claim by solicitors for professional fees under a Contingency Fee Agreement entered into with their clients, the defendants, in respect of non-contentious business in recovering compensation from Allied Irish Bank Plc (“AIB”) under the Financial Conduct Authority Redress Scheme. The complaint was that AIB had mis-sold the defendants an “interest rate swap”. The Contingency Fee Agreement which was negotiated entitled the solicitors to 50% of any compensation recovered, plus disbursements. AIB eventually offered compensation of £821,045.06 (gross of tax). Accordingly the sum claimed by the solicitors in this action, including disbursements and VAT, is £498,083.52. [8 times what it would have billed if it had charged on an hourly basis]

Related Articles:

Changes to expert's code of conduct

Costs on discontinuation

Vicissitudes and life expectancy

Duty and foreseeability

Search

Categories

Tags

Social Media

Subscribe to the weekly newsletter

Please enter your name.
Please enter a valid email address.
Something went wrong. Please check your entries and try again.
Social Media Auto Publish Powered By : XYZScripts.com
Scroll To Top