Please note the following in respect of insolvency claims:
- the sizeable premium for an ATE (After the Event) insurance policy to cover the risk of losing and having to pay an opponent's costs will no longer be recoverable from an unsuccessful opponent if the policy is taken out later than 31 March this year. Insurers have advised that applications for ATE insurance should be made as soon as possible; and
- the success fee in "no win, no fee" agreements will no longer be recoverable from an unsuccessful opponent in respect of any such agreements entered into after 31 March this year. There is less of a lead-time for such agreements than ATE policies, but work must have been done under them by that date for recoverability to apply.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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