Additional disclosure—settlement of litigious matters
312 Additional disclosure—settlement of litigious matters
If a law practice negotiates the settlement of a litigious matter on behalf of a client, before the settlement is executed, the law practice must disclose the following to the client—
a reasonable estimate of the amount of legal costs payable by the client if the matter is settled, including any legal costs of another party that the client is to pay;
a reasonable estimate of any contributions towards those costs likely to be received from another party.
However, a regulation may provide for matters relevant to subsection (1) when there is more than 1 law practice acting on behalf of a client.
This Act’s bill:Explanatory memorandum
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