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Funding - Coggle Diagram
Funding
ATE Insurance
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after the event insurance is taken out to help the client cover costs of litigation once a dispute has already arisen
not recoverable from other party if policy was entered into after 1 April 2013 and a party wins at trial and is awarded its costs
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BTE Insurance
before the event insurance is taken out before client becomes involved in litigation and provides the client with an indemnity for the cost of any legal fees incurred as a result of any such future litigation
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tend to be relatively low (less than 1% of insurance cover sought) but are not generally recoverable from the other side should the policyholder be successful
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Damages Based Agreements
lawyers do not recover any fees if they lose a case but if they win, they may recover their fees out of damages awarded to their client
the max. amount a
lawyer can recover is capped:
- 25% = personal injury cases
- 35% = employment tribunal cases
- 50% = all other cases
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