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Friday 4th June 2010
Recovery of Legal Fees
Truex v. Toll [2009] EWHC 396 (Ch) is the authority for the proposition that bankruptcy procedures are not appropriate in relation to outstanding legal fees as these do fall within the definition of "a liquidated sum" to support a Petition.
Costs that are not judicially assessed or determined, cannot constitute a claim for a liquidated sum that could be the subject of a Bankruptcy Petition under the Insolvency Act 1986 s.267.
Also see Wallace LLP v. Yates [2010] Ch D (Morgan J) 2/3/2010 - a Registrar had not erred in setting aside a Statutory Demand for sums owed by a client to his Solicitors where, as at the date of the Statutory Demand, the sums claimed were unliquidated.
J W Knight, Costs Lawyer
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