On Thursday, April 23, 2015 at 6:15:06 AM UTC-4, Colin Roney wrote:
Anyone had any experience of overhauling the brakes/braking system on
original LAK 12 factory supplied trailer - Difficult/Easy?

No LAK experience, but consider swapping a complete new assembly onto the axle. That is very easy and you only have one part number to match. On ALCO assemblies, the part number is stamped on inboard side of the backing plate. Crawl under the trailer with a bright flashlight and a piece of sandpaper.