Bizarre use of a No Win No Fee agreement

Consideration was given for the editing and publication of this post.

The below article on no win no fee from solicitors is from https://www.irelandpersonalinjuryadvice.com/no-win-no-fee-solicitors-dublin/ more information can be obtained by contacting the law firm directly.

No Win No Fee agreements are widely used by the legal profession in Personal Injury and Medical Negligence claims for compensation for injury suffered in accidents. It is also used by the law firms in employment law and just recently it has appeared in litigation. In recent times it has been associated with the search for the lost Malaysian Airlines flight 370.  The aircraft which disappeared on March 18th, 2014 was a Boeing 777 and was on a flight from Kuala Lumpur to Beijing when it vanished from radar screens after a short while from taking off. There were 239 people on board.

A number of governments searched the oceans for the missing airplane from shortly after it disappeared until January 2017. Although a few parts from the airplane have been washed up in the western Indian Ocean there has been no sign of the airplane or where even it came down.

The mystery has continued of what happened to the airplane and with many questions about the last flight of the aircraft unanswered an American company called Ocean Infinity stepped in. What they have said to the Malaysian government is intriguing. They have said that they will continue to search for the aircraft on a No Win No Fee basis and that they will only get paid if they find the missing aircraft.

And they will get well paid although no exact details of the recent contract with the Malaysian government have been released it is believed that Ocean Infinity stands to earn in excess of a $150 should they find the missing aircraft. But in the meantime, Ocean Infinity will bear all the costs of the search operation until either they find the aircraft or they stop looking for it. Sceptics’ are of the opinion that they either know where the aircraft is or they know the rough area where it is. We will see soon enough!

What is a No Win No Fee agreement? A No Win No Fee agreement sometimes known as a No Win No Foal agreement or a Contingency agreement says that you pay nothing, either upfront or during the process until your case is won or as in this case, the aircraft is found. In some ways, it is a reward for success for the person or organization that does all the work. In some jurisdictions, a premium can build into the reward for having taken the risk on winning. In other jurisdictions, this is not allowed in the legal area where solicitors and barristers may only charge for the actual work done. Indeed the Law Society of Ireland who regulates all solicitors in Ireland requires the following statement or disclaimer on all advertising and websites “In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.”

For sure anyone who offers a No Win No Fee agreement must believe that there is a fair chance of winning. Ocean Infinity must have an idea as to where the aircraft is the size of the Indian Ocean alone makes looking for a needle in a haystack fairly easy!

For the peace of mind and for some closure for the family and friends of the people aboard flight 370 we certainly hope that they find the aircraft.

 

 

October 25, 2017 · Editorial Team · Comments Closed
Posted in: News