Recent Success at FDR Hearing
A Financial Disputes Resolution (“FDR”) Hearing can be seen as a dummy run for a real trial.
Both parties attend Court and put their arguments to a Judge without witnesses having to go in the witness box to give evidence.
The Judge will listen to the arguments made by both parties and the Judge will give their opinion, indicating how they would determine the outcome of the case if it was a final hearing.
An opinion from an FDR Judge is non-binding meaning that the parties don’t have to accept what is said and they are free to proceed to a real trial if they want to.
FDR hearings are a form of alternative dispute resolution and can be very useful as they give the parties an idea of who is likely to succeed should the case go to trial, which in turn can encourage the parties to reach an agreement.
FDR hearings are very common in family law/matrimonial cases but they are increasingly being used in financial/commercial disputes.
Although there are costs associated with attending an FDR, the costs of a trial, with witnesses and experts giving evidence were saved and outcome achieved for the parties much sooner.
Not all courts offer FDR hearings in financial disputes but this does not prevent the parties from arranging a private FDR hearing. This is where both parties agree on an experienced barrister or solicitor to act as the Judge and the parties also agree on the date and location of the hearing. This is a quicker and cost-effective option.
Attwells recently attended an FDR hearing at the County Court at Central London where we acted for the claimants. The dispute related to the ownership of a property. There were some disputes about the facts but the main dispute was based around legal arguments relating to trusts and beneficial interests. After hearing a morning of legal arguments, the Judge expressed a clear view that the Defendants were likely to lose their case and the parties reached a prompt settlement that afternoon.
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