Published Articles
October 28, 2015
Litigation? How a Hybrid DBA Will Help
By the end of the year, the U.K.’s Ministry of Justice is expected to publish Damages-Based Agreements Regulations 2015, a new policy that dictates how law firms can structure damages-based fee agreements. In an article penned for Today’s CEO, James Wagner, associate in Faegre Baker Daniels’ London office, said he expects the new legislation to open the door to “hybrid” damages-based agreements, which he believed will be a welcome change to the “pure contingency fee agreements” enshrined by prior legislation.
“Under a hybrid DBA the client will pay its lawyers a lower fee if the case is lost (for example, by paying a discounted hourly rate) and a percentage of the damages if the case is won,” Wagner wrote. “This represents a more appropriate risk-sharing regime between the client and the law firm.”
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