2016 has started at quite a pace with three case settlements recovering over £2.3m in January alone. The claims related to three separate liquidations run by three different IP firms across the UK.
Proceedings had been issued on two of the cases – the third was settled during a standstill period, prior to issue. Manolete self insured the adverse cost risk on all three cases and no CFAs were used to fund any legal fees. As usual, Manolete paid all fees as incurred at normal base rates. This meant that there was no success fee uplift payable on CFAs and also no ATE cost burden deducted from the proceeds, thus securing maximum returns to the creditor estates.
After paying for all solicitor, barrister, experts and issuing costs, in aggregate, over £1m was recovered for the Creditor Estates. As Manolete always indemnifies the Insolvent Companies and IPs on an unlimited basis, these recoveries were made to the estates on a completely risk free basis to the creditors and Office Holders.