Latest Articles / Law Costs Draftsmen
In the ever-evolving landscape of legal proceedings, Law Costs Draftsmen play a vital role in managing extensive legal costs, particularly evident in complex cases such as the recently settled phone hacking case involving Prince Harry and The Daily Mirror.
This case saw the Mirror Group Newspapers (MGN) face a claim close to £2m in legal costs. MGN was found guilty of engaging in “extensive” phone hacking and “widespread” unlawful information gathering across its titles between 2006 and 2011. Out of the 33 articles examined at trial related to Prince Harry, 15 were identified as products of phone hacking or unlawful information gathering, leading to an award of £140,600 in damages.
Notably, the sum demanded does not yet include Harry’s individual costs, which are expected to be substantial, thus increasing the publisher’s potential liabilities further. The claimants, represented by David Sherborne, are calling for 90% (£1.94m) of the total claim of £2.15m to be paid on account, arguing that they should recoup the costs of exercise as the victors of the generic issues examined.
The intricate relationship between legal costs and case outcomes presents a glaring reminder of the pivotal role played by Law Costs Draftsmen. As specialists in measuring, scrutinising, and advising on legal costs, they provide indispensable support to parties involved in such high-value litigations where the stakes run into millions.
At Regulated Risks, we believe that this profession’s importance will only grow, given escalating concerns about transparency, accountability, and proportionality in legal fees. Besides advising on quantifiable costs, Law Costs Draftsmen also contribute their expertise in navigating regulatory environments, risk management, and formulating robust insurance strategies.
By engaging with a risk management and insurance consultancy like Regulated Risks, legal practices can effectively mitigate the risks associated with excessive legal costs and compliance. Our team of experts can provide bespoke services tailored to suit your requirements, enabling your practice to navigate the complexities of cost assessments confidently and competitively.
By acknowledging the significant contribution of Law Costs Draftsmen to managing legal costs in complex and high-value cases like the Prince Harry phone hacking case, we can underscore the necessity of risk management and compliance in the legal profession, ensuring sustainability and success.
For Law Costs Draftsmen and legal practices seeking to refine their risk management and insurance requirements while staying compliant with regulations, we invite you to book a discovery call with us. At Regulated Risks, we aim to equip you with the tools and knowledge necessary to navigate the complexities of legal costs confidently and maintain your competitive edge.
We work with Law Costs Draftsmen firms of all sizes to help them navigate the complex regulatory environment and ensure their compliance.
Book a Discovery Call with us today to discuss your business needs and partner with us for a secure, thriving future.
