Wed, 18 Mar 2020
No5 Barristers’ Chambers is offering an increased range of new cost-effective services for claims up to £25,000, spearheaded by Philip Mantle and No5’s Business and Property Group.
Philip said: “Whilst litigation has always carried inherent uncertainty, it is now becoming increasingly uneconomical to pursue regardless of the underlying merits of the case, particularly at the small claim/fast track level. All those involved in litigation therefore need to become open to exploring alternative means to resolving their dispute beyond the traditional methods of Court proceedings. The intention behind offering these services is to meet that need.”
The services offered are;
- Paper based Determination
- Private Neutral Evaluation
Paper Based Determination
Where Parties wish to secure a binding resolution to their dispute, a paper based determination service is offered.
Befitting the size of claims concerned, this scheme operates as a less formal, cost effective form of arbitration offering the benefits of a binding resolution combined with advantages with respect to costs. In addition, the paper based nature of the exercise avoids the need for parties to take time out to physically attend any hearing, allowing the Parties to avoid the loss of valuable working time.
Upon engagement, (if the parties have not already prepared the same) directions are given for the production of a bundle of agreed documents, witness evidence and written submission based upon the same.
Following receipt of written submission, a paper based determination is issued and circulated to the parties within 21 days.
Private Neutral Evaluation.
Echoing the FDR appointment in family proceedings, the scheme aims to give the parties to litigation the opportunity to identify and resolve the real issues in the case in a time and cost-efficient manner. To facilitate the scheme Philip will provide an independent, non-binding, evaluation of the case to enable the parties to better understand the merits of their positions and the implications of continuing the litigation.
Unlike a determination, the evaluation is non-binding on the parties. The utility comes from opportunity to gain insight into the relative merits of the case is intended to promote discussion between the parties with a view to achieving settlement on the day. To that end if further discussion, beyond the initial two hours is considered by the parties to be worthwhile, then the parties can retain their meeting rooms at No5 Barristers’ Chambers subject to availability.
Fixed Fee Structure
In either case, reflecting the increasing importance of matters being resolved both expeditiously and at proportionate cost, a fixed fee structure is offered.
By operating for a fixed fee, the scheme offered by No5 enhances the opportunities for cost saving, and budgetary certainty, that ADR seeks to promote.
Fees are as follows:
- For claims with a monetary value of between £10,001-£25,000 - £500 plus VAT per party
- For claims with a monetary value of less than £10,000 - £375.00 plus VAT per party
In either case, the fee includes three hours of reading and preparation (bundle limited to 150 pages). Where the Parties seek binding determination, the Fee likewise incorporates production of a written determination.
Where Neutral Evaluation is sought, the fee additionally includes a two-hour meeting. At the meeting, after an initial round table session where the preliminary evaluation is given, the parties will have the opportunity to continue negotiations with a view of achieving settlement for the balance of the two hours.
Claims with a financial value in excess of £25,000.00 can be accommodated outside the standard fixed fee structure. Please contact the Business and Property Group clerks at BP@no5.com or 0845 210 5555 for a bespoke quote.
Philip Mantle is an ADR Accredited Mediator who both participates in and regularly conducts mediations in a range of commercial and property disputes.