Professional Negligence

  TABLE OF CONTENTS

 
Professional Negligence is defined by a professional having a duty of care towards their client, whereby the client can reasonably expect a certain level of professionalism and standards commonly held by those in the profession.

Professional negligence is the failure of a professional to exercise the appropriate skill and care expected to be exercised in specified circumstances.

We can assist you in professional negligence matters concerning:

  • Financial advisers
  • Stockbrokers
  • Directors
  • Solicitors
  • Accountants
  • Doctors
 

We have particular depth of expertise in claims against financial advisers, having successfully conducted some of the most significant legal claims in Australia against financial planning groups. Such claims have typically involved significant capital losses arising from the mis-selling of high risk investment products.

 

Pricing Options

We believe in offering our clients flexible and transparent pricing arrangements to suit their preferences and commercial imperatives.

Depending upon the matter, we can offer you the following pricing options:

1. Hourly rate pricing: this is the legal industry standard method of billing. The amount of time spent working on a matter is the amount that will be billed, irrespective of outcome or value to the client. This option works best where there is a relationship of trust in which the scope of work is difficult to accurately price.

1. Fixed fee: this is an arrangement for the completion of defined piece of work at a fixed cost. This option gives the client cost certainty in terms of cost. This type of pricing is most suitable for reasonably simple matters lacking any unpredictable variables (e.g. a conveyance).

2. Capped fee: a capped fee is similar to the hourly pricing arrangement except the client stops paying after a certain “cap”. This provides costs certainty to the client as they will know the maximum amount that they will be liable to pay, with the possibility of a lower amount being payable if the work is completed more efficiently than the cap allows. This arrangement is generally suitable for medium complexity work with a limited number of material variables.

3. Risk sharing arrangement: an arrangement whereby the law firm agrees to receive only a proportion of its professional fees billed with the balance payable on the successful conclusion of your matter. Disbursements are typically payable paid in full. This type of arrangement typically works well in complex large-scale litigation such as class actions.

4. Monthly retainer: this arrangement requires the client to pay a fixed amount every month in return for services which have a reasonably predictable steady flow. This is usually suitable for regular low complexity work with few to no variables.