Costs budgeting errors could be negligent

1st June 2015 by

Commercial lawyers could be at risk of professional negligence claims as a result of poor costs-budgeting planning and a failure to adapt to Lord Justice Jackson’s costs management reforms, according to a survey of the United Kingdom’s top 200 law firms.

In fact, of the 912 commercial lawyers surveyed, nearly 70% reported incurring costs above planned budget levels; yet, despite this, only 11% made applications to revise their budgets accordingly.

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