Tour Report #17: The Jackson Reforms and costs with Sue Nash
“Let there be no doubt about it, the reforms will come into force next
April”.
“It would not be an exaggeration to say that from my perspective costs management is the key to the Jackson reforms. If it succeeds the reforms will succeed. If it doesn’t, then we run a risk that costs will unnecessarily and otherwise avoidably increase and the reforms will fail”.
“I do not want to give the impression that I do not have faith in the reforms. It might seem that I am already expecting disaster. That is very far from the case. But one has to be realistic”
Lord Dyson MR
Today, I am talking with Sue Nash of Litigation Costs Services at the offices of Kysen PR in London.
The Jackson Reforms – in particular the issue of costs and retainers.
1. A brief overview of the main aspects of the reforms – Costs Management/Budgeting, Provisional Assessment, new proportionality rule, new/revised funding arrangements i.e. DBAs/CFAs and the referral fee ban
2. Costs management/budgeting – how it is supposed to work and what firms need to do to prepare for it – analysis of historic ‘data (work) and recording and planning future work – need for specialist input from costs specialists – using them as part of the litigation team/process.
3. Provisional assessment – likely impact will be to discourage firms from seeking oral hearings to dispute the PA.
4. Retainers
5. Round-up – all reforms supposed to be looked at together and taken as a package – overall impact on Claimant PI firms/departments likely to be a fee income reduction of between 25 and 50% over the next 2-3 years (higher value cases will be less affected). Get in expert help and spend time now – they need to know if their current business models are viable going forward and if not need to change them.
Read Full Post »
Charon QC 