Many of us are aware of the ongoing litigation in the Financial Conduct Authority‘s (FCA) business interruption (BI) insurance test case (FCA v Arch Insurance (UK) Ltd and others). But what are the next steps for this fundamentally important case for thousands of businesses across the UK, and what are the potential implications of the recent developments in the case?
In this first blog I look at the general principles of conditional fee agreements (CFAs), and, in particular, “no win no fee” conditional agreements. In a second blog, I look at “no win lower fee” CFAs, which are a useful and popular method of funding for commercial disputes.
In the recent case of R (Kuznetsov) v London Borough of Camden, both the claimant and defendant parties fell foul of the rules for filing a form N260: Statement of Costs (summary assessment), and paid the penalty accordingly. So, when should you file an N260?