We were instructed by XYZ Limited whose former solicitors had issued proceedings in respect of a complex contractual claim but had incorrectly calculated the applicable time limit for bringing that claim. This meant the claim had been discontinued with a resulting costs liability to the opponent and the loss of XYZ Limited's ability to recover damages.
We introduced XYZ Limited to a litigation funder who was able to fund the costs of issuing proceedings for professional negligence against the former solicitors as well as Counsel's and expert's fees.
This meant that working capital which would otherwise have had to have been committed to funding disbursements could be used for the client's business. We acted on a discounted Conditional Fee Arrangement (CFA) basis, so we were paid at a reduced rate as the claim proceeded.
XYZ Limited received substantial damages following the settlement of the claim from which were paid the funder's costs and disbursements as well as our fees, including a success fee.
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.