Two thirds of businesses have increased spending on fighting commercial disputes over the last year, according to a litigation survey released today. Nonetheless, the researchers found that companies were still not pursuing all potential claims because of the fears of litigation costs.
The survey, from one of the UK’s growing band of third-party litigation funders, found that 56 per cent of corporate general counsel said they had not litigated a matter they were confident of winning because of the up-front expense of doing so. Vannin Capital’s survey said that 64 per cent of in-house lawyers reported that their financial outlay on litigation overall was increasing. The vast majority also lashed out at their law firms for either not providing detailed litigation budgets or for exceeding forecasts.
According to researchers, only 8 per cent of respondents said that their law firms always worked within budget, while 14 per cent said that their lawyers never set budgets at the outset of a case.
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