CFA success fees and after the event insurance premiums
CFA success fees and after the event insurance premiums were due to become irrecoverable in insolvency litigation with effect from 1 April 2015 which would potentially have had a significant effect on the commerciality of bringing certain claims and an insolvency practitioner’s ability to bring them.
However following concerted lobbying by R3 and its members as to the potentially detrimental effect of the imminent changes, the Government has today announced that CFA success fees and after the event insurance premiums will remain recoverable in respect of insolvency litigation pending further announcement later in the year.
You can read more about the Government’s announcement here.
John Bradshaw is an Insolvency & Business Recovery solicitor at Barker Gotelee, solicitors in Ipswich