Update on Insolvency Practitioners Loss of No Win No Fee
Posted on 22 March 2016
Shadow Justice Minister, Christina Rees tabled parliamentary questions on behalf of R3, the body which looks after the interest of Insolvency Practitioners.
Minister, Christina Rees asks the government their justification for ending the insolvency professions exemption to the 2012 LASPO.
To date the government had failed to provide an answer as to why it disagrees with the findings of Professor Walton's report on the likely impact of the reforms.
As previously stated it would appear that the real beneficiaries of the loss of the LASPO exemption will be rouge traders any others who refuse to pay creditors monies due.
It is important to take early advice - whilst all options are still open. The longer matters are left, the less control you will have over the outcome, and the harder it becomes to save a business
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