Manolete Partners presented to a very well attended Annual North London Insolvency Group Conference on 21st June 2012. Speaking to a largely IP dominated audience, Steven Cooklin (Managing Director) provided an overview of the Manolete product offering and walked the audience through a number of recent case studies. Of particular interest was Manolete's ability to deliver value to creditors on even relatively low value claims. Using their unique operating cost model Manolete recently achieved a 100% return on a £32k Director's Loan Account debt in just 80 days. The debt had previously been outstanding for over a year despite efforts to recover it. As usual, Manolete paid the insolvent company cash upfront and shared the net proceeds on a 50-50 basis. The legal costs of achieving the recovery were less than £2k, so 94% of the recovery was available for distribution back to the creditors and Manolete Partners.
One of the IP's attending commented: "I had assumed it was just all about large commercial litigation but this model appears to be just as effective on small claims against directors and therefore applies across a much broader range of our files".