The three legal firms that were on Independent Insurance's legal panel have reached an agreement with provisional liquidators Pricewaterhousecoopers (PWC) on the payment of policyholders' future legal costs.
Davies Arnold Cooper (DAC), Berrymans Lace Mawer and Davies Lavery will continue to accept the bulk of new instructions relating to claims against policyholders.
Existing instructions with the three firms will also remain in place.
DAC executive partner Danny Gowan said the firms would write to all policyholders to advise them of the agreement.
“This is excellent news for all parties, including the creditors of Independent Insurance and particularly all its policyholders,” he said.
DAC's Madrid office has also been retained by PWC for all Independent legal work in Spain.
