Key Points
USA, Insolvency & Restructuring, Litigation, Skadden Arps Slate Meagher & Flom LLP, Supreme Court of the United States
From 1 April 2016, conditional fee agreements (CFA), after the event premiums and success fees will no longer be recoverable in insolvency cases.
The legislative change is set to have the biggest impact on lower-value insolvency cases (damages less than £500,000 and legal costs lower than £200,000).