Insolvency Blog - Asset Tracing
Insolvency litigation funding for $173m claim
Date: 23rd January, 2007 | Author: Chris Laughton | Comments: 1
Insolvency litigation funding is a maturing industry, certainly if you believe the press reports about Insolvency Management Ltd funding a $173m claim by the liquidator against the auditors of Stone & Rolls. The details and merits of the claim need not concern us. What is important is that an "after-the-event" insurer will provide cover sufficient to enable a liquidator to issue such proceedings. Litigation is not something a liquidator can pursue lightly. Even directions hearings can lead to adverse costs orders. But the point has not been lost on the insolvency regulators that arguably liquidators have to explore - even...
