Former Lord Chancellor’s Department minister David Lock has launched a new insolvency litigation company designed to enable liquidators of insolvent companies to make legal claims even if they do not have the assets to pay the legal fees.
The company, called Insolvency Management (IM), was launched last month.
Under the scheme, IM takes on insolvency litigation cases and instructs lawyers from an approved list, taking on the risk from the client on the condition that IM takes a 25% cut of any money recovered.
