Manolete Wins TRI Insolvency Litigation Funder of the Year Award – 19th October 2016
At the 2016 Turnaround Restructuring and Insolvency (“TRI”) industry awards at the London Hilton, Manolete Partners PLC beat Burford Capital, Harbour Litigation Funding and several other funding companies to win the inaugural award for Insolvency Litigation Funder of the Year.
The TRI judging panel comprised many senior executives and leading professionals from across the restructuring industry, including: HSBC, PwC, the Insolvency Practitioners Association, KPMG, Mazars, Shoosmiths, RSM, Pinsent Masons, the Institute of Chartered Accountants, Barclays, Begbies Traynor Group and other leading organisations.
In winning the award, the panel of judges recognised Manolete as “a true pioneer of insolvency litigation funding”, its “high number of completed cases” (the largest in North America and Europe for single case financings) and the “high amounts recovered for insolvent estates”.
Manolete has built a reputation for taking cases “all the way”. In July, they were successful in the Supreme Court ruling against Hastings Borough Council following wins in the High Court and Court of Appeal.
Steven Cooklin, CEO of Manolete, said: “We are extremely delighted to be recognised as Insolvency Litigation Funder of the Year. It is a great honour for us as the whole industry considers the TRI awards as the ultimate accolade.
“We have just taken on our 150th case and have completed 110 in an average of just 8 months. Manolete offers a highly attractive model because we take all cost and all the risk but then return the large majority of the proceeds to the insolvent estate for the benefit of creditors. As the UK Government has recognised, it is the most cost effective and fast model in the insolvency litigation market recovering tens of millions of pounds for creditors. I am just hugely proud of my team and hugely grateful to the outstanding Insolvency Practitioners and lawyers who have worked with us to bring about these astonishing results.”