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Ally Tow
Ally Tow,
SENIOR ASSOCIATE - CHARTERED LEGAL EXECUTIVE
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U-turn on LASPO insolvency exemption
02 March 2015

In April 2013 reforms came into effect pursuant to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (“LASPO”) resulting in a ban on recovering after-the-event insurance premiums and success fees from losing parties, save in respect of insolvency proceedings and mesothelioma claims.

The exemption in relation to insolvency proceedings was due to be lifted in April but last week the government announced that it would “for the time being” delay applying the provisions of LASPO to insolvency proceedings.

Accordingly so called “no-win, no fee” agreements will continue to operate on a pre-LASPO basis for insolvency proceedings with any success fees and after-the-event insurance premiums remaining recoverable from the losing party.

For more information about the issues in this article or to find out more about how the Dispute Resolution team can help you please contact Ally Tow on 0118 952 7206 or email [email protected].

Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.

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