The UK's Office of Fair Trading (OFT) is set to launch a probe into legal costs in 'no win no fee' cases.
In an announcement made last week, the OFT revealed that it will be looking into the competitiveness of ATE, or after-the-event insurance, and the pricing of policies within that sector of the insurance market. It will also, according to reports, be examining whether solicitors can justify the amounts that they charge in successful cases under the conditional fee system.
Observers have suggested that any criticism of the existing conditional fee system will be a black eye for Lord Chancellor, Derry Irvine, who abolished legal aid for the majority of personal injury claims when he took office in 1997, in favour of conditional arrangements backed by ATE insurance.
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