What kind of ballpark costs likely to take a £100k multitrack commercial claim to trial against a bank? Facts not complicated and not really in dispute - more about legal issues.
Not used to estimating costs for claims at this level.
Also what kind of costs are normal early on - just for a letter before action?
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50/60k in total.
5k/10 early on.
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muchos gracias!
i think I had the overall costs about right but I was underestimating the costs to get to letter before action - I had it at 3-3.5k
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It does depend on the letter before action though. If it’s not complex you might get someone to fix it for £3.5k for the initial bit of work. But that’s pretty low.
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5-10k for letter before action is about right.
Everything thereafter depends on docs, complexity, contentiousness etc. Could potentially sneak in for 50k, could easily get up to 100-150k.
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Yes, I want the business so I don't want to scare them off, and it's a smallish claim plus the other side has admitted fault to some extent in correspondence when problems first arose, but there's still a a fair few documents and some messy facts to go through.
I think I will say letter before action will be 5-7k and then let them negotiate me down to 5ish (or about 4 at a push).
Thanks peeps
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You should be able to draft a robust LBC for £2.5k Max. To trial? £100k min each side
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Those figures are too high T. Desirable yes but not likely
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