December 2017 – 200 Case Milestone Achieved

Manolete Partners is delighted to report that is has now signed its 200th Insolvency Litigation case investment.

In late 2015 Manolete celebrated its 100th case, it had taken six years to reach that milestone. The latest 100 cases have taken just two years to sign – thus highlighting the rapid pace of growth.

In total, 103 of the cases have been assigned to Manolete under its standard Purchase Agreement. The other 97 cases have been by way of a Funding Agreement.

Across the portfolio over £40m of recoveries have been made for Creditor Estates, on claims ranging from just £20,000 upwards.

Average claim sizes have increased dramatically in the last two years as IPs and their legal teams have appreciated the benefits of Manolete’s bespoke insolvency litigation financing products:

  • Immediate cash into the Estate
  • Estate enjoys a 50%- 90% share of the eventual net proceeds at zero risk to the IP or the Creditor Estate
  • IP’s choice of lawyers – we have no panel
  • Solicitors and Barristers paid normal hourly rates and are paid as the work is completed
  • Zero ATE cost (we self-fund all adverse cost risk at zero cost to the case)
  • No use of brokers – thus saving substantial commission costs and enabling a much faster decision process

Manolete CEO, Steven Cooklin, commented: “We are delighted with the rate of progress. Since the advent of the Jackson Reforms in April 2016 there has been further rapid buy-in across all key stakeholders to Manolete’s Funding and Purchase solutions for insolvency claims. Huge credit goes to the Manolete staff and the IPs and lawyers who have worked with us to achieve this important milestone. The bigger the Manolete portfolio grows, the larger the portfolio benefits that we can pass on to IPs and the creditors.”

stephen-baister-manolete-team

July 2017 – Former Chief Registrar Stephen Baister to Join Manolete Partners

London: Manolete Partners announced today that former Chief Bankruptcy Registrar, Dr Stephen Baister, would be joining their team as Senior Advisor.

Stephen, a former solicitor and licensed insolvency practitioner, is an honorary member of the Insolvency Lawyers Association and has been President of the Chartered Institute of Credit Management since 2010. He will take up his position formally with Manolete Partners in October.

Manolete specialises in insolvency litigation claims and is now the largest litigation funder by volume of single claim cases in Europe and North America. The business has been operating since 2008 and adopts a different approach by often buying whole claims, which are invariably settled quickly with sizeable returns to creditors.

Manolete has made 180 case investments, 135 of which have been completed in an average of just 10 months. The amount recovered for insolvent estates was over £30m. The first six months of 2017 saw Manolete complete 25 insolvency litigation claims: a rate of one completed case per week with 96% success rate.

Steven Cooklin, CEO of Manolete, said: “We are absolutely delighted Stephen is joining us. The market is really accelerating so we could not have wished for someone with more experience and knowledge of the sector. Stephen is highly respected across the board and he will be a huge asset to our operation. There is no doubting the significant benefits he will bring to our business.”

Stephen Baister said, “I am very much looking forward to my new role as Senior Advisor and working closely with the Steven and the rest of the Manolete team. I have great respect for the way Manolete can resolve cases quickly and so yield a fast and positive return to creditors. Manolete has taken insolvency litigation in a new direction. The figures demonstrate the wider possibilities this new model brings.”