Monday, 17 May 2010

Trafigura Dispute £105M Legal Costs

A week ago I posted that Leigh Day, the company that sued Trafigura on behalf on alleged Ivorian victims, had claimed costs of £105M from Trafigura.  Unsurprisingly, Trafigura will contest these charges.

“The Lawyer” carries an article by Katy Dowell

Simon Nurney, a partner in Macfarlanes, the law firm which represented Trafigura, said the sum is “wholly unjustified”.

The article finishes by saying,

“Last week Leigh Day submitted a £105m costs estimate to the court, including a 100 per cent uplift on £45m in legal fees and a £10m legal expenses insurance premium.”

I am not taking sides in this part of the dispute but, from the outside, the fees claimed seem extraordinary.

[Thanks, Katy, for this]

2 comments:

  1. Two symbols representing the legal trade (and straining their necks to be on pole) are the unashamed black hole of greed and the sneering badge of dishonesty.

    Neither will disadvantage the lawyer for as long as it maintains the traditional choking grip on Parliament.

    Armed with the blunt assertion that nobody else is qualified to assess legal fees, it has been a suppurating boil on the buttocks of society - since Shakespeare's day.

    I have wondered what inspired the Bard to pen "First, let's kill all the lawyers" if it was not first hand experience of this protected thief laying claim to hard won fortune.

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  2. I have had very few contacts with lawyers other than buying and selling houses.

    The one time I had involvement was in the USA re an Intellectual Property case for which I had to give a Deposition.

    The whole truth was unimportant.

    Not losing was all important.

    Obfuscation was praiseworthy.

    I never expected anything different but to be faced with the reality was a shock.

    I have always assumed the position was the same here.

    Fees - well .....! I bow to your superior knowledge but I do like your description.

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