February 2013 Archive

High-cost cases to escape new management rules

1 April 2013 is a key date with regard to litigation funding as the Legal Aid, Sentencing and Punishment of Offenders Act 2012 becomes law. From this date ATE premiums and success fees will no longer be recoverable from losing defendants and damages based agreements will be introduced. However in regard to cost management, the judiciary has decided that commercial cases worth more than £2m will be exempt from new costs management rules in an amendment to the Civil Procedure Rules finalised last week.
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