Case Studies

We have a strong track record of working with the full spectrum of insolvency practices throughout the UK.

There is no minimum case size – if it makes commercial sense then we’ll be interested. No IP will ever be asked to pay for anything and there are no hidden consultancy fees.

Flexible and commercial approach

We funded a London based Trustee in Bankruptcy (“TiB”) where the bankrupt claimed her main London residential property had been transferred pre-bankruptcy to a charity. In fact, the property had been transferred to the bankrupt’s son for nil consideration.

Manolete funded the TiB to recover the asset for the benefit of the creditors and a Court Order was successfully obtained. However, difficulties arose when the TiB tried to sell the property because it did not have clean title.

Manolete simply paid off all of the existing charges, at no cost to the Estate. Total cost to Manolete around £70k.

The TiB was naturally keen to realise value for the creditors, so Manolete obtained a third-party valuation of the property and in just four weeks we purchased it for re-sale.

This case serves to highlight the flexible and commercial approach we take to financing Office Holders.

Tax avoidance claim

Following on from funding the successful liquidator in Ball (PV Solar Solutions Ltd) v Hughes & Anor [2017] EWHC 3228 (Ch), Manolete took assignment of a multi million pound director breach of duty claim in relation to tax avoidance claim from a company in liquidation. Working with the IPs existing external solicitors, the claim was advanced through normal pre action protocol.

After just seven months, the parties and the key stakeholders (including HMRC) agreed to a mediation. The claim was settled for over £2 million with HMRC receiving £1.5m through the liquidation process. All IP and lawyer fees incurred both before and after the assignment to Manolete were recovered in full.

A great example of the fast and effective way our model works supporting large, meritorious claims.

Company assets at an undervalue

Liquidators identified several claims in relation to a situation which will be all too familiar to IPs and insolvency lawyers, namely the sale of valuable company assets to connected parties at an undervalue in the months prior to liquidation. The parties had obtained professional valuations, but nevertheless proceeded to sell for much lower sums.

Over a period of 18 months, solicitors for the liquidators had advanced the claims in pre action correspondence and had served proceedings in draft. This resulted in a ‘without prejudice’ meeting, but the other side failed to make any commercially sensible proposals. As there were no monies in the estate to finance issue of proceedings, the liquidators assigned the claims to Manolete.

The other side immediately agreed to mediate and the claims were settled against 5 out of 6 targets, only four months after the assignment to Manolete. The assignment to Manolete resulted in the targets rapidly settling claims which they and those advising them had previously dismissed.