What is the CFA success fees Ready Reckoner?
Posted on 30th January 2024 at 08:57
WHEN it comes to considering the level of success fees for Conditional Fee agreements (CFAs), solicitors can sometimes find it difficult knowing where to assess the prospects of success, and the level of success fee, prior to entering into the CFA.
When determining the appropriate success fee that aligns with the prospects of success in a particular case, it is important to ensure an accurate reflection of the associated risk.
Solicitors have a fiduciary duty to prioritise their client’s interests and, in general, the Courts accept the CFAs ‘Ready Reckoner’ from Atack v Lee [2004] EWCA Civ 1712 as the starting point for a calculation.
Consequently, we would advise using the Ready Reckoner for Success Fees to objectively assess the risks for all new matters.
The Ready Reckoner for Success Fees
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