CFA exemption to continue for insolvency proceedings

CFA exemption to continue for insolvency proceedings

In a House of Commons Written Statement it was announced today (26 February 2015) that the Government is to delay the commencement of sections 44 and 46 of LASPO 2012 in relation to insolvency proceedings.

The initial delay in implementing the provisions preventing the ability to recover success fees in respect of insolvency proceedings was to allow time to prepare and adapt to the changes. The Government has now recognised that further time is required.

No date has been set for the implementation of the provisions in the future but Mr Shailesh Vara, The Parliamentary Under-Secretary of State for Justice, Minister for the Courts and Legal Aid announced that the Government would consider an appropriate way forward and provide further details later in the year.

Click here for the full Written Statement

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About the author:

Janna is a dispute resolution lawyer. She deals primarily with cross border issues and is active in the work being undertaken in relation to the implications of Brexit for Dispute Resolutions lawyers. Janna also heads up a LexisNexis costs team bringing together expertise from across the company to deal with the costs issues facing the profession.