LASPO Funding Update for Insolvency Proceedings
Further to our blog titled “The Perils of April 2015 for Insolvency Litigation Cases” at the end of last year, the government has confirmed in their recent statement of today’s date that the carve-out has been extended. Accordingly, April 2015 will not see the end of the recoverability of success fees and after the event (ATE) insurance premiums from the losing opponent as part of the costs ordered on the successful outcome in insolvency litigation cases. The government has indicated that they will consider the appropriate way forward for insolvency proceedings and will set out further details later in the year.
We hope this news will come as a sigh of relief for Insolvency Practitioners.