At Bailoran Solicitors we have a range of hourly rates available dependent on the experience of the solicitor handling your case. We understand that budgets need to stretch as far as possible so will often have a senior solicitor lead your case with junior members of the team progressing the matter under supervision in the background in order to keep your costs down wherever possible.
Sometimes the complexity of a case means this approach is not the most cost effective route, however this is something that would be explored in conversation with you prior to us ever being instructed. Our aim when you instruct us is to try and assist you in the most cost effective and commercial way possible.
At Bailoran we operate 2 different bands of hourly rates:
Our standard rate For Limited Companies, Partnerships, PLC’s etc:
Costs:
Hourly rates differ dependent on experience.
Director – £440.00
Senior Consultant Solicitor/Barrister – £425.00
Consultant Solicitor – £375.00
Senior Solicitor – £315.00
Solicitor – £295.00
Consultant Executive – £275.00
Trainee Solicitor – £245.00
Paralegal – £225.00
Our loyalty rate for returning Business Clients:
Costs:
Director – £410.00
Senior Consultant Solicitor/Barrister – £395.00
Consultant Solicitor – £325.00
Senior Solicitor – £295.00
Solicitor – £265.00
Consultant Executive – £245.00
Trainee Solicitor – £215.00
Paralegal – £195.00
Depending on the circumstances of your instruction, hourly rates may not be the best fit for your case, so Bailoran also operate alternative pricing models such as ‘fixed fees’ to help you reach an agreed stage of proceedings for an agreed fixed fee. This provides peace of mind with costs whilst we head towards an agreed goal.
Fast Track Claims:
(‘Fast Track’ Claims are those with a value of £10k – £25k)
Estimated Legal Costs:
£23k – £28k plus VAT
Plus Court Fees
Plus any Barristers Fees
Fast Track Claims are the most disproportionate on legal costs of the 3 tracks a claim could be allocated to and there are additional risks if you lose because the normal rule is that the losing party pays the winning party’s legal costs.
By way of example, if you were pursuing a £20k claim, your legal costs could be £15k plus VAT and if you lost, not only would you be unable to recover the sums of your claim, you still remain liable for your own legal costs, and you would also be likely to remain liable for a significant proportion of the defendant’s costs, which could be a similar amount as your own.
If you are defending a claim, even if you are successful in your defence, on the basis that payment of the other side’s costs are usually assessed down by the Courts, you will always be out of pocket, e.g. if it costs you £15k plus VAT to defend the claim, the recoverable costs paid to you by the claimant could be assessed down to £10k plus VAT, and this would be subject to the other side’s ability to discharge the sums. So, unless there is a valid counterclaim, being a defendant to fast track proceedings to trial will unfortunately incur costs even if successful. The alternative if you lose is remaining liable for your own costs, the sums claimed and a significant proportion of the other side’s costs. This could collectively be anything up to 3x the sums actually being claimed e.g. £40k on a £15k claim.
The disproportionate costs and associated risk for Fast Track claims are clear. For Fast Track claims of £10k – £25k it may be more cost effective for Bailoran Solicitors to negotiate on your behalf before entering the Fast Track claims route. Call us for a free initial chat to explore your best options on 0113 266 0735
Claim Value
Claim value of £25k – £50k:
Claim value of £50k – £100k:
Claim value of £100k – £250k:
Claim value of £250k – £1m:
Claim value of £1m – £3m:
Costs:
Estimated Legal Costs: £30k – £45k plus VAT
Estimated Legal Costs: £40k – £80k plus VAT
Estimated Legal Costs: £75k – £125k plus VAT
Estimated Legal Costs: £115k – £180k plus VAT
Estimated Legal Costs: £170k – £345k plus VAT
The above costs are a general guide and may be dependent on additional factors including, but not limited to, counter claims, interim applications, enforcements and complexity.
As with Fast Track Claims, Multi Track Claims come with risks regarding costs. If you lost, you would not recover the sums of the claim, you would remain liable for your own legal costs, and you would also remain liable for a significant proportion of the defendant’s costs, likely to be similar to your own.
The Court process can therefore often be stressful and expensive so Bailoran ensure that when instructed to act on any claim we provide you with the best legal and commercial advice and will protect your position as forcefully as possible.
However, we are also well practised in advising on alternative methods of resolving disputes including holding without prejudice meetings, adjudications and mediations. These are viable options to consider throughout the litigation process as it often means that the parties involved in the dispute retain an element of control over the outcome.
It is often the case that disputes are resolved in a manner which is acceptable to both parties but is something that the Courts would not be in a position to order. It is for this reason that both parties should consider alternative methods to resolve their dispute at the earliest opportunity as litigation should always be a last resort.
If you would like further information in respect of this specialism please call our offices on 0113 266 0735.
Following an insolvency, directors often want to buy back the business and operate with a new company using the same or a similar name to the old company.
If this is not done correctly then the penalties are severe including fines and/or imprisonment and personal liability for the new company’s debts.
We will advise on how to protect you from breaking any laws in relation to this and will issue the relevant notices to creditors/applications to Court on your behalf.
Bailoran offer fixed fee options for this work:
First Exception (Notices to Creditors) for companies with fewer than 50 creditors
£3,600.00 plus VAT plus Disbursements per Director.
Additional directors will be a further £2,200.00 plus VAT plus Disbursements each.
Second Exception (Application to Court for Permission to Act)
£8,250.00 to £9,350.00 plus VAT plus Disbursements per application (limited to 2 directors).
Additional directors will cost £3,850.00 plus VAT plus Disbursements per application.
Disbursements include Court Issue Fee, Barristers Fees for the hearing, Advertisement Fee at the London Gazette as necessary.
Serving of statutory demands under £10k cost £1050.00 plus VAT.
Serving of statutory demands over £10k cost £2000.00 plus VAT.
Fees:
Estimated Counsel’s fees:
Solicitor’s fees estimate:
Costs:
£600.00 – £3,500.00 plus VAT per attendance (depending on complexity)
£6250.00 – £8,250.00 plus VAT. (Subject to increase if there are multiple hearings)
Fees:
Personal Service of the Petition:
Court Fee:
Official Receivers Fee:
Advertisement in London Gazette:
Counsel’s Fees for each Court hearing:
Solicitor’s fees estimate:
Costs:
£150.00 plus VAT
£352.00
£2,600.00
£128.82 plus VAT
Estimated £1,750.00 – £5000.00 plus VAT depending on complexity.
£7,250.00 – £9,500.00 plus VAT.
Please note, this excludes any adjourned hearings where additional fees would be incurred and any applications to restrain the presentation or advertisement of a winding up petition.
Fees:
Court Fee:
Counsel’s fees:
Solicitor’s fees estimate:
Costs:
£326.00
£1,250.00 – £3,500.00 plus VAT (depending on complexity)
£7,250.00 – £9,500.00 plus VAT
Fees:
Petition fee:
Official Receiver’s Deposit:
Personal Service of Petition:
Counsel’s fees:
Solicitor’s fees estimate:
Costs:
£352.00
£1,500.00
£150.00 plus VAT per attendance
£600.00 – £3,500.00 plus VAT per attendance (depending upon complexity)
£6,250.00 – £8,250.00 plus VAT
For disputed business debts under £10k, please contact Bailoran regarding Small Claims training (also known as Money Claims Online – or MCOL – training) so you can deliver this process in house.
Our training will allow you to submit your own claims online and bypass disproportionate legal fees for claims below £10k.
Our Small Claims trainer has over 20 years experience in processing claims and will deliver your training live, not pre-recorded, so you can be sure you understand the process thoroughly. Our training package also includes a recording of your training session and 2 hours of post training support to assist you with your initial claims.
Costs:
Small Claims Training is £4000.00 plus VAT for up to 7 attendees per organisation.