We introduced Mr A to an After The Event (ATE) insurer, who provided a policy to cover the risk of Mr A having to pay the other side’s costs in the event that the claim was not successful. Mr A chose a policy which had a deferred premium, meaning it did not have to be paid until after the case had concluded. The premium was only payable in the event of a successful conclusion (so he could pay it out of his damages). The premium increased in stages throughout the proceedings.
We represented Mr A on a full Conditional Fee Arrangement (CFA), which meant that we did not receive any payment until after the case ended.
The claim was settled after the disclosure of documents stage, meaning it did not go all the way to trial. Mr A recovered a seven figure sum, from which he paid the ATE premium and our costs and success fee, and kept approximately 70% of the settlement sum for himself.*
*In other cases, a higher or lower percentage recovery may be made.
Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.