For a fully contested trial I could well believe this would cost £25k just for dealing with the finances.
TBagpuss is obviously very reasonable in her charges!
Using my basic rules of thumb – I can see the costs projectly thusly:-
£25,000.00
-£3,000.00 Less cost of barrister for final hearing (and a conference beforehand)
-£255.00 Less court issue fee
£21,745.00 Sub total left for solicitors costs
Based on the FDR costing twice the cost of the FDR and the FDR costing twice the Final hearing i.e. one seventh, two sevenths and four sevenths (this is a rough guide to costs which I find to be reliable. If you instruct an expensive solicitor and your cost to FDA are £20k (I’ve seen this happen) you will be in for a rough ride if you have to go to final hearing).
£21,745.00 / 7 = £3106.43
£3106.43 (£2588.69 + VAT) FDA costs
£6212.86 (£5177.38 + VAT) FDR cost
£12425.75 (£10354.77 + VAT) Final hearing cost
The above is an average example. A straightforward case involving the
FMH as the only asset will be a lot lower whereas a case involving multiple properties, pensions, international assets, company assets etc will be much higher. Naturally, the parties can reach an agreement at any time in which case later, more expensive, stages can be avoided.
You need to bear in mind that the above example is based on costs after issue of proceedings. If the parties spend a few months negotiating this adds to the cost but can focus the issue and some of the disclosure will have been dealt with so costs can be saved. However, if you are negotiating beyond 6 months without progress you end up with diminishing returns and issuing proceedings can help focus the parties’ minds.
Charles