Located in the heart of legal London, Chancery Lane based Cubism Law is a leading professional negligence firm, with in-depth experience of acting for and against those claiming damages for professional negligence.
Our four specialist in this area, Peter Zombory-Moldovan, Karen Pollock, Duncan McNair and Peter Mellett, all have partner level backgrounds in leading City law firms focusing on professional negligence and professional indemnity matters. They bring a wealth of knowledge and skill to their practice, whether representing private individuals, partnerships or companies in disputes arising out of professional negligence, breaches of professional duty or fraud by professionals.
Clients appreciate our high value, user-friendly, cost-effective, but pragmatic approach to resolving professional negligence disputes, wherever possible without the need for litigation. Where this cannot be avoided, we aggressively pursue or defend our clients interests, without losing sight of the need to contain costs.
We have experience in claims against many groups of professionals. Please note that we do not deal with clinical negligence claims.
Funding your Professional Negligence Claim
The costs of bringing a claim to trial can be substantial and anyone contemplating litigation should be aware of the substantial investment they will have to make both in terms of time and money. Cubism prides itself on its innovation and will work with its clients to find the best solution to fund a claim of merit. The different options for professional negligence claim funding are set out below:
- Hourly Rate. The solicitor and the client agree an hourly rate at which the solicitor will conduct the case, reviewable each year. If the case is successful the client will generally recover about two thirds of these costs from the unsuccessful party.
- Conditional Fee Arrangement. The Client and the Solicitor enter into a CFA which means that the solicitors services are not paid at point of delivery but are deferred until settlement/judgment (subject to important exceptions). The client will normally choose to take out After the Insurance in conjunction to protect himself against an adverse costs ruling. Disbursements (such as Counsel and Expert fees and Court fees) are paid by the Client. Cubism does not provide disbursement funding. The Clients’ case will have at least a 60% chance of success confirmed by an independent barrister. Cubism will assess the case before entering into a conditional fee arrangement with a client to ensure that it is viable. We carefully choose the clients and cases we take on because we provide a professional service to our clients.
- CFA” Lite”. The Solicitor and Client agree that the solicitor hourly rate is reduced with a deferred element payable if the case is successful. Again disbursements are payable by the client. Available, at Cubism’s discretion if the case has merit but does not attain the 60% prospects of success test.
- Third Party Funding: Professional funders will take over the Clients liability to pay costs and be liable for any adverse costs awards in return for a percentage of damages awarded or a multiple return on investment made. Third Party Funders usually require a strong case, where the defendant has sufficient assets (or is insured) to meet a judgment and that the damages are substantial. As a starting point, the claim must be worth at least £1 million.
- After the Event Insurance. These products cover a client’s risk of being ordered to pay the other side’s legal costs at the conclusion of the case and usually the disbursements the client has paid during the litigation, even if it is unsuccessful. However, they do not generally cover the costs paid to the solicitors. At present products can be found where the premium is conditional on success and self insured. However, the legal framework for recovery of costs including insurance premiums is changing and the structure of these products and availability will change in the near future.
We will advise you on the different options open to you to fund the case in a transparent fashion.
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