No win, no fee news
28/01/2009

National Accident Helpline up for sale

No win, no fee company the National Accident Helpline is back up for sale, only four months after its owners decided to take if off the market because of fears that the credit crunch might result in it failing to reach its £60 million asking price.

However, the no win, no fee giant is once again available for this price after Price Waterhouse Coopers (PWC) successfully arranged a so-called "staple package" with the Royal Bank of Scotland, whereby a loan of £45 million will be provided to its buyer, leaving the successful bidder only needing to pay £15 million upfront.

The no win, no fee company has belonged to LDC (an investment arm of Lloyds TSB) since 2006. It also has a number of subsidiaries, including nowinnofeeclaims.com and Benchmark Insurance. It has been providing accident compensation services since its inception in 1993.