On 17 December Lord Faulks outlined that as of 1 April 2016 the recoverability of success fees and ATE premiums in insolvency cases will cease.
With only a few weeks to go, it is imperative that insolvency solicitors act now to avoid missing the cut off for recoverability in insolvency matters.
Katherine Hemsley, commercial risks development manager of DAS LawAssist comments – “If you are an insolvency solicitor and you have an insolvency case which requires ATE cover then we strongly urge you to submit this to us by Friday 11 March.
“Due to the complexities of assessing these types of cases it can take up to 10 working days to obtain an offer of insurance. Therefore if a case is received later than 11th March, we will be unable to guarantee a response before the rules on recoverability change on 1 April.“
Further information on submitting your claims can be found here: https://www.daslawassist.co.uk/index/insolvency16