- Recovery of legal fees under conditional fee agreements with liquidators (Stevensdrake Ltd v Hunt)
- Original news
- What was the background to the appeal?
- What were the legal issues the Court of Appeal had to decide?
- What did the Court of Appeal decide, and why?
- To what extent is the judgment helpful in clarifying the law?
- What practical lessons can those advising take away from this judgment?
- How does this case fit in with other developments in this area of the law? Do you have any predictions for future developments in this area?
Restructuring & Insolvency analysis: Can a solicitor recover directly from the liquidator their profit costs or fees under a conditional fee agreement (CFA) for legal services? Following the Court of Appeal’s decision in Stevensdrake v Hunt, Hugh Sims QC and Simon Passfield, barristers at Guildhall Chambers, say that insolvency practitioners (IPs) would be well advised not to rely on informal arrangements with solicitors but instead should ensure that any arrangements are formalised and fall within the remit of the CFA. In addition Anton Smith, partner at Ashton Bond Gigg, considers the wider implications for funding these types of cases with CFAs.
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