In brief: Insolvency practitioners face conditional fees

Mr Justice Ferris' working party into the remuneration of insolvency practitioners has called for the introduction of conditional fee-type agreements in insolvency work. The working party, which reported last Friday, suggests in some cases insolvency practitioners should only be paid if they get assets back. It also stresses the duty of insolvency practitioners to satisfy themselves that solicitors' bills are proper and reasonable. The report was welcomed by the Vice-Chancellor, Sir Richard Scott, who set up the working party because of widespread concern over insolvency practitioners' high fees. It was also welcomed by the Society of Practitioners of Insolvency.