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Insolvency
Investigation Services meets the costs of :
• Management and evaluation of case
• Investigations by experts
• Assignment and court application costs
• Legal fees and disbursements
• Security for costs orders
• Adverse costs orders
Every litigation and recovery agreement is specifically tailored
to reflect the matter being assigned. The features, limits,
conditions vary though the majority include :
Management and evaluation of case
Insolvency Investigation Services will initially investigate in
detail the claim. Once determined as a verified claim the
management of the claim will proceed to assignment. All of these
costs will be at an agreed schedule of rates of remuneration.
These costs would only become payable if a recovery is made. If
no recovery is made then there is no cost to the Liquidator or
the company in liquidation.
Investigation by experts
Where any experts are engaged as part of the investigation and
recovery process these costs will be met by Insolvency
Investigation Services. If no recovery is made then there is no
cost to the Liquidator or the company in liquidation.
Assignment and court application costs
Any assignment of the right to sue must be with the approval of
the High Court. The defendant or proposed defendant has a right
to oppose the application. The legal expenses and related filing
costs will be met by Insolvency Investigation Services. If no
recovery is made then there is no cost to the Liquidator or the
company in liquidation.
Legal fees and disbursements
Insolvency Investigation Services will pay for the time costs
and disbursements of both the legal team and the supporting
experts. They also meet all administrative costs, court costs,
filing fees and transcript charges which, over lengthy
proceedings, can all significantly add to the cost of the
process. If no recovery is made then there is no cost to the
Liquidator or the company in liquidation.
Security for costs orders
In most recovery litigation, defendants will require some form
of security to confirm that any order for costs can be met.
Insolvency Investigation Services will, as part of the recovery
process, provide bank guarantees to meet security of costs
orders thus eliminating the effectiveness of a security for
costs application.
Adverse costs orders
Liquidators normally face a personal liability to adverse costs
orders made against them. By using this method of assignment and
recovery this risk is eliminated as Insolvency Investigation
Services meet any adverse costs orders.
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