Australian Bank: cutting legal spend by 80%

A major Australian bank sought our independent advice on a $185,000 litigation budget. They were concerned this budget wasn’t focused on their primary objective: to resolve the matter through mediation.

OUR APPROACH

We categorised all legal work into three streams: necessary, likely, and possible. Only work that was necessary for successful mediation was approved in the budget.

THE OUTCOME

The matter was successfully resolved through mediation. The final cost to the bank resulted in a reduction of more than 80% compared to the original proposal.