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CFA

CFA

Postby Earl » Sun Sep 25, 2016 6:15 pm

Hi

I have been offered a CFA with a success fee of 45% haggled down from 60% for a proprietary estoppel case is this good bad or average.

Secondly the terms state that it is only up to issuing Court Proceedings, they intend to go through the mediation process before issuing proceedings is this a wise or correct procedure and the contract states that I will have to find an alternative source of funding, is this a correct procedure i.e standard practice. I felt that if they take you on they should do so to the bitter end.
Any comments welcome before I sign this document.
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Re: CFA

Postby atticus » Sun Sep 25, 2016 6:52 pm

45% to issue of proceedings seems high. Ask the solicitor to explain the risk assessment. But the success fee for a case that goes to trial is likely to be higher.

As to the rest, discuss this with the solicitor. Ask him or her to explain his thinking. Ask follow up questions.
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Re: CFA

Postby Earl » Sun Sep 25, 2016 11:33 pm

Thanks for the response.
But to add.............
The solicitor explained his method i.e. mediation before issuing proceedings in as much as that I would not be liable for my opponents cost until proceedings were issued.
My answer to that was that I know mediation has to be attempted and even seen to be done by both parties but knowing the opposition as I do, mediation would be a waste of time, in other words it would be a physical and financial exercise by both parties that got us know where.
Your answer that a case that goes to trial the success fee is likely to be higher is alarming given that my CFA only goes up to the issuing of proceedings, thus I'm left high and dry by my solicitor having paid for mediation and now haggling for a further contract for him to continue.

My basic question remains is if you get a no win no fee it should be for the duration of the case, to trial if needs be and not just for the pre proceedings swapping of letters etc.
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Re: CFA

Postby atticus » Mon Sep 26, 2016 6:50 am

CFAs vary.

I am acting on one. Success fee is on a sliding scale - 25% to case management conference; 50% to delivery of trial brief; 75% after delivery of brief.

So discuss this with the solicitors.
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Re: CFA

Postby theycantdothat » Mon Sep 26, 2016 7:58 am

atticus wrote:Success fee is on a sliding scale - 25% to case management conference; 50% to delivery of trial brief; 75% after delivery of brief.


Do I believe that?
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Re: CFA

Postby atticus » Mon Sep 26, 2016 8:53 am

I haven't got the foggiest idea what you believe.

It is, however, true. A sliding scale like that is very common.
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Re: CFA

Postby Earl » Mon Sep 26, 2016 10:58 am

I understand the sliding scale, so in my case starting off at 45% is high?
Secondly they have given me a contract on said terms, up to issuing proceedings but have not mentioned terms about going forward, I now find a little unnerving since I feel they are trying to get me over a barrel as to the next % after issuing proceedings.
Also the contract stipulates that fees will start from when we agreed the 45% however I had questions about disbursements and insurance plus others that they said they would only answer after I agreed to the 45%. Well I agreed but the questions asked were not answered especially about future disbursements especially initial court fees issuing proceedings (these I read are proportionate to the amount claimed so if it is say 200,000 so am worried if I can afford them)
All this was explained to the firm at the outset.
When should the firms fees be calculated from. As suggested in previous post to ask questions, but all I'm doing is increasing fees for skimpy if non existent answers.
I feel all the questions and negotiations should be free and so my next question is if I haven't signed any contract can they bill me for anything.
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Re: CFA

Postby atticus » Mon Sep 26, 2016 3:04 pm

I think you need to nail down the terms. What if mediation does not resolve things?
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Re: CFA

Postby Earl » Mon Sep 26, 2016 3:51 pm

I am trying to nail down terms, and have asked the same question.

I have not signed the CFA contract, in the contract he states that fees will be basically back dated to when I instructed him. I have not instructed him although he wrote a letter stating I had.
If I haven't and do not sign the CFA can he get any costs from me for just talking and negotiating a fee?
Not feeling the love any more from this guy.
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Re: CFA

Postby atticus » Mon Sep 26, 2016 9:11 pm

From what you say, there appears not to be any agreement that you will pay a fee.
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