“As I mentioned in “Intellectual Property Litigation – the Funding Options” 10 April 2013, it was possible until the 31 March 2013 for a litigant to enter an agreement with his or her solicitors and counsel known as a conditional fee agreement (‘CFA’) whereby the lawyers would look to the other side for payment not only of their assessed costs but also of an uplift known as a success fee and the premium for insurance against their own and the other side’s costs in case of failure known as after-the-event (‘ATE’) insurance if they won the case or obtained a satisfactory settlement. As I also mentioned in that article, it is still possible to enter a CFA but any success fee and ATE insurance premium must now be paid by the successful party – usually out of any damages or accountable profits he or she may receive.”
NIPC Law, 4th May 2013
Source: www.nipclaw.blogspot.co.uk
