Credit crunch litigation boom yet to arrive as companies seek alternatives to court
New figures from the Ministry of Justice suggest that the widely expected surge in litigation from the credit crunch has yet to transpire.
Although the figures do show a rise in the number of civil cases heard in the High Court in 2007 – which are up from 63,027 in the previous year to 64,046 – this equates to an increase of just 1.6%, far less than the growth anticipated in the fallout from the credit crunch.
Speaking to The Lawyer, litigation solicitor Fiona Walkinshaw of Reynolds Porter Chamberlain has put the small rise down to the growing preference for alternative dispute resolution. “Many financial institutions will want to stay out of the public arena and opt for alternative means to settle claims.”
Employment solicitors explain alternative dispute resolution
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