May 16th 2018

£5m of recoveries across five cases in the last two weeks

This calendar year has seen a sharp rise in the number of insolvency litigation enquiries being presented to Manolete. Each month since January we have recorded record levels of new enquiries and case investments.

Critically, the volume and size of recoveries on cases for insolvent estates has also reached new highs.

The last two weeks were particularly noteworthy with five cases resulting in very material recoveries:

  1. A major tax avoidance claim settled shortly before trial at a significant seven figure sum resulting in excellent returns for the creditors and 100% WIP recovery for the IP and his lawyers;
  2. A long running assigned case that had been through several rounds of formal proceedings finally resulted in a positive outcome, with the judge referring to Manolete’s conduct of the case as “exemplary”;
  3. A case for a North Eastern based IP resulted in a good outcome for her estate a few weeks prior to the commencement of the trial;
  4. Another tax avoidance claim settled at mediation, where HMRC worked closely with the Office Holder and Manolete to ensure returns for all creditors were maximised;
  5. A London based IP managed to take control and realise assets rightly belonging to a bankrupt’s estate, realising a high six figure sum, supported by funding from Manolete.

On all these cases the Manolete model was in full effect:

  1. No ATE was used – we self-insured the case thus maximising the return for the estate but obviating the need for expensive ATE;
  2. No brokers were used – everyone knows Manolete, by coming direct to us you save the Estate excessive brokerage mark-ups on arranging funding;
  3. As usual, the IPs’ choice of lawyers were used, as is our house policy. And they were paid as they did the work – never on a CFA or DBA risk arrangement.

Great IPs. Supported by brilliant lawyers. Financed by Manolete Partners = The winning combination.