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Restructuring and Insolvency news
No win no fee conditional fee arrangements (“CFAs”) have long been an important feature of insolvency litigation, enabling claims to be brought against delinquent directors and others for the benefit of creditors. The changes to CFAs brought in by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (“LASPO”) had threatened the future of insolvency litigation. A short term exemption from LASPO for such proceedings was due to expire on 1 April 2015.
Thu 26 Feb 2015