“Mathematics is, in its way, the poetry of logical ideas.” Albert Einstein
One of our challenges as a company that takes assignment of litigation is to demonstrate how we add value. In this article, our resident accountant, Gwilym Jones, analyses the numbers behind one of our recently concluded cases and explains how our approach to litigation can benefit all stakeholders.
Value of claim when presented to H&J: £90,000
Assignment agreed on terms whereby 50% of any net recovery was due to the insolvent estate
Following assignment, H&J’s in-house team identified additional heads of loss which significantly increased the value of the claim.
Settlement was ultimately agreed for a total of approximately: £260,000: £180,000 damages; and £80,000 in respect of costs.
Settlement for 197% of the claim’s value as originally presented;
The lawyers (who acted on a 100% CFA with a success fee element) received 123% of their charged time;
84% of the estimated claim value paid in cash to the estate;
100% of disbursements paid in a timely manner with no recourse to the IP; and
100% indemnity given to the officeholders to protect against an adverse result.
This case is a prime example of the value that we aim to bring to our cases by:
+ Utilising quantum experts early on to establish the most accurate damages level which helps set expectations on both sides;
+ Using our experienced in-house team to work closely and collaboratively with solicitors and barristers to reduce overall costs; and
+ Litigating in a responsible and pragmatic manner so as to protect our costs position as much as possible.