Damages-based agreements: A video blog from Director Huw Wallis
Damages-based agreements (DBAs) are a relatively new innovation in legal funding, and they offer the opportunity for you to motivate your litigation lawyer to produce the result you want.
We are one of the few firms in the country to have already successfully acted under Damages Based Agreements since they were introduced under Lord Jackson’s reforms in April of this year. DBAs are a potentially exciting development for claimants wanting “no risk” litigation.
Director of Disputes Huw Wallis explains more:
Specifically, unlike traditional forms of litigation funding such as CFAs (conditional fee agreements) or no win no fee agreements, which operate on the basis of time spent by a lawyer on your case, the DBA is very different. The DBA offers your lawyer the chance to be remunerated on the basis of a result. In other words, your lawyer has to produce the result you want, otherwise they won’t get paid.
DBAs are not yet mainstream, they are subject to some very complex regulation, but you should certainly be asking your lawyer about whether a DBA is appropriate in your case.
How can we help?
We are one of the few firms that have already successfully used DBAs.
If you would like to discuss whether a DBA may be an appropriate method to fund your claim, please contact Huw Wallis.
Huw is happy to explain DBAs and the other alternative methods of funding available in more detail.
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. This update relates to the prevailing circumstances at the date of its original publication and may not have been updated to reflect subsequent developments. If you have general queries about our updates, please email: firstname.lastname@example.org