July 2018: Manolete’s Northern Office Signs its First Case

Manolete’s new Northern office has just signed its first live case – we are funding a substantial misfeasance claim on behalf of the liquidators of a Northern-based fashion retail company.

Manolete already works directly with a great many Insolvency Practitioners and Solicitor firms in the north of England and Scotland – our business inquiries have very wide regional coverage. Establishing a Northern hub underlines Manolete’s commitment to those independent local firms and Northern offices of nationwide practices and allows us to stimulate new opportunities and partnerships.

Manolete’s new office is based in Manchester and headed by Associate Director, Dominic Vincent. Dominic has been active in the northern insolvency market for over 20 years and has considerable experience of all aspects of insolvency litigation.

Dominic said, “I am delighted the newly founded Northern office of Manolete Partners is now contributing to our extensive list of over 65 live cases. In addition, we have assessed several cases from IPs and Solicitors who have approached Manolete for the first time. So our profile is clearly still rising.”

Steven Cooklin, Chief Executive of Manolete said, “We have been offered a very significant number of cases from IPs based in Sheffield, Leeds, Manchester and Doncaster. So the intention was always to consolidate that demand with a Northern office. In time, we hope to expand further into other significant business regions across Britain. Our wide regional spread is another indicator of our commercial strength.”

July 2018: Manolete Completes Major Tax Avoidance Claim

Manolete Partners has this week completed a major tax avoidance claim for over £2m.  Manolete had taken an assignment of the case. The claim was settled through mediation – the duration of the case was just ten months.

In line with many similar cases, the largest creditor in the Estate was HMRC who received over £1m. There was 100% fee recovery for the Insolvency Practitioner and the solicitor and counsel legal team. As is our strict policy – Manolete always retains the IP’s choice of legal team.

There was no ATE cost at all – Manolete self insures adverse cost risk for free to our clients. This plays a key role in maximising the returns to the Creditor Estate.

Manolete Chief Executive, Steven Cooklin said, “This case is a good example of our model working to full effect. The result is spectacular and fast returns for creditors, especially HMRC, who benefitted from receiving well over 50% of the total settlement. The IP has told us he is delighted with the speed and quantum of the result.

We are thankful for the outstanding IP investigation and litigation support work as well as the brilliant solicitors and counsel who formed a formidable team. It’s been another great result.