Businesses engage in commercial litigation to resolve disputes that arise in the course of their commercial activities, protect their legal rights and interests, and seek remedies for breaches of contracts, intellectual property infringements, partnership disagreements, and other business-related issues. Commercial litigation allows businesses to enforce contracts, recover financial losses, and address unfair competitive practices. It also serves as a means to uphold regulatory compliance and address disputes involving mergers, acquisitions, and other complex transactions.

Mediation is an alternative dispute resolution (ADR) method where a neutral third party helps the parties involved reach a mutually acceptable resolution. On the other hand, litigation involves a formal legal process that can result in a court trial and a binding judgment.

Yes, there is a statute of limitations on commercial litigation, which sets time limits within which legal actions must be initiated. The primary legislation governing these time limits is the Statute of Limitations 1957, as amended. Key limitations include:

1. Contractual Disputes: For most commercial litigation involving breach of contract, the statute of limitations is six years from the date on which the cause of action accrued. This means businesses have six years from the date the breach occurred to file a lawsuit.

2. Tort Claims: For tortious claims (e.g., negligence, fraud) not involving personal injury, the limitation period is also six years from the date the cause of action accrued.

3. Debt Recovery: For claims involving the recovery of debt, the limitation period is generally six years from the date the debt became due.

4. Fraud or Mistake: In cases involving fraud or mistake, the six-year limitation period may begin from the date the fraud or mistake was discovered or could have reasonably been discovered.

Businesses must be aware of these time limits to ensure they do not lose their right to bring a claim. Consulting with our solicitors will help your business navigate these time frames and take appropriate legal action within the prescribed limits.