To ask the Secretary of State for Justice, whether an impact assessment has been carried out on the amount of reduced income that creditors will receive as a result of the proposed end of the temporary exemption for insolvency litigation under the Legal Aid Sentencing and Punishment of Offenders Act 2012 which is planned for April 2015.
It explained that whilst there may be a reduction in the number of cases brought where no win no fee conditional fee agreements are used, overall the LASPO reforms will tackle excessive costs. The Government does not propose to update the Impact Assessment in relation to insolvency proceedings.
The LASPO reforms will apply to insolvency proceedings from April 2015. As provided in the Act, implementation will be by way of Commencement Order.