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. “