ALERT! Deadline looms for insolvency claims
Please note the following in respect of insolvency claims:
- the sizeable premium for an ATE (After the Event) insurance policy to cover the risk of losing and having to pay an opponent’s costs will no longer be recoverable from an unsuccessful opponent if the policy is taken out later than 31 March this year. Insurers have advised that applications for ATE insurance should be made as soon as possible; and
- the success fee in “no win, no fee” agreements will no longer be recoverable from an unsuccessful opponent in respect of any such agreements entered into after 31 March this year. There is less of a lead-time for such agreements than ATE policies, but work must have been done under them by that date for recoverability to apply.
Please contact Jonathan Haydn-Williams if you need further information.
This guide is for general information and interest only and should not be relied upon as providing specific legal advice. If you require any further information about the issues raised in this article please contact the author or call 0207 404 0606 and ask to speak to your usual Goodman Derrick contact.