Find a service

T. 0114 276 5555

Insolvency Specialists Welcome Delay to ‘No Win, No Fee’ Changes

Share this page:

Insolvency specialists from hlw Keeble Hawson describe the government’s decision to postpone changing the ‘no win, no fee’ laws for insolvency proceedings until 2015 - as a step in the right direction.

hlw Keeble Hawson logoThe firm claims that proposed changes affecting civil litigation costs and funding in the Legal Aid, Sentencing and Punishment Bill would severely restrict creditors’ ability to recover money taken by directors who have acted improperly or who have stripped value out of a company prior to insolvency.

Said Richard Fergusson, head of hlw Keeble Hawson’s Insolvency and Business Recovery Department: “As a firm whose practice encourages the use of conditional fee agreements (CFAs) and after the event insurance (ATE) in areas where Insolvency Practitioners have no assets with which to pursue claims, we applaud the fact that the government has delayed the changes for three years and hope that in due course they will decide not to implement them at all.

“If implemented, they will undoubtedly discourage insolvency practitioners from undertaking litigation and enable some directors to get away with dishonest practice and leave creditors with nothing.”

hlw Keeble Hawson is one of the region's biggest legal practices with a 14-strong Insolvency and Business Recovery team. The firm operates out of offices in Sheffield, Leeds and Doncaster.

Share this page:

Get in Touch