How much can I claim back and how long will it take?
Can I claim for lost potential rental income on my investment?
Our solicitors are able to claim for the initial sum invested which is normally the deposit you paid to secure your property purchase. We will also claim for reimbursement of interest on your behalf. The interest rate is set by the Court, but is usually 3-4%
The time frame for for a case to be settled in Court is normally 12-18 months, though most cases we have dealt with have successfully settled out of court.
No, claims can be made only for the deposit lost and interest on the deposit sum.
When should I start a claim?
Will starting a claim against a solicitor affect the sum I receive from the liquidator?
Your claim should be started as soon as you are aware that you have one and your opponent should be put on notice from the outset. This is in your best interest and the best interests of all other claimants if you are part of a group.
You should do this as best practice for litigation pre-action protocol.
The expectation of the Court is that claims are made at the earliest opportunity so to comply with litigation protocol it is best to start a claim, even if it is too early to quantify the exact size of the claim at the time. Not following this protocol could have adverse consequences once your case goes to Court. It also means your case should settle sooner rather than later, so to your benefit all round.
No. The final dividend you receive from the administrators of your development bears no relationship to any litigation initiated by you, or any group of which you may be a part.
These are entirely separate processes and starting a claim will in no way be detrimental to the final dividend you receive from the liquidators.
The claim you are making will be against the solicitor that failed to represent your best interests only.
What benefit to me is being in a group of litigants?
Our lawyers are working on a 'No Win, No Fee' basis. While there are still expenses incurred in group litigation such as court fees, barrister’s fees and Legal Expense Insurance, the more people who are sharing those expenses the less they are for each individual.
We know from previous successful group claims on failed property developments that a well organised and insured group has been shown to be the very best way to make sure insurers and solicitors take every claim seriously and is extremely useful in negotiating final settlements.
Group litigation is generally more cost effective for each client and strength in numbers have proved to be a positive tool in securing the best outcomes on settlement.