Luke Harrison, Partner, Keidan Harrison (introduction); Sir Rupert Jackson (chair), Arbitrator, 4 New Square; Boris Bronfentrinker, Partner, Quinn Emanuel Urquhart & Sullivan, LLP; Lucy Pert, Partner, Hausfeld; PJ Kirby QC, Barrister, Hardwicke; Elena Rey, Partner, Brown Rudnick; David Walker, Senior Legal Counsel, Deminor.
One of the main concerns in dispute resolution is the level of legal costs and how they are funded. There has been much criticism of the traditional hourly rate. The last 20 years, however, have seen considerable innovation by lawyers with the use of conditional fee agreements, damages based agreements, litigation funding and the assignment of claims. There have also been developments in the collective redress system including opt out class actions in competition claims, test cases and technology to manage large volumes of claimants enabling large volumes of smaller claims to be managed together sharing risk and costs. As lawyers have innovated, the courts been had to address the issues raised by the different funding arrangements and their impact on costs.
This session will focus on traditional and alternative fee arrangements. It will look at issues such as the adequacy of pricing and funding of international dispute resolution, taking into account how the improved use of funding and technology may have an impact on the proportionality of legal costs.