Assignments Why They Matter
At social events outside the insolvency world, I’m often asked what I do and what makes Manolete different. The answer usually surprises people — because we don’t just “fund” claims, we buy them outright.
When I explain this to insolvency professionals, what resonates most is the practical benefit: if Manolete owns the claim, we can move fast, reduce costs and maximise what goes back to creditors. That is why assignment has become our default model.
Our story began in 2008, following legal advice from none other than the late Gabriel Moss QC. He believed financing insolvency claims, particularly by assignment, could unlock recoveries which otherwise would never see the light of day.
And that’s how Manolete was born — through conviction, collaboration and a very clear challenge: to turn unfunded claims into real outcomes for creditors. We’ve carried that spirit through every case since.
Growth and Trust
In those early days, we were a tiny team working to prove a novel model. By around 2014, we had completed roughly 100 cases – a key proof of concept that gave Insolvency Practitioners confidence in our approach. Fast-forward to 2018 and Manolete reached another milestone: an IPO on AIM, the London Stock Exchange’s growth market. Going public raised capital and credibility. Growth accelerated further, and in 2024 we completed our 1,000th case; an almost unimaginable number back in 2009.
Over this journey, our in-house legal team grew from a handful to a robust network of insolvency solicitors across the UK headed up by our CEO Mena Halton who continues to lead the legal team in its day-to-day delivery. Each milestone – from case #1 to case #1000 – reflects not only increasing volume but the trust we’ve built in the insolvency community.
Company claims have always been capable of assignment. A turning point was the introduction of Section 246ZD of the Insolvency Act 1986 through the Small Business, Enterprise and Employment Act 2015, giving liquidators and administrators the power to assign office holder claims. We built our model around purchasing both company and office holder claims removing risk and cost from the estate while accelerating creditor returns. This assignment structure gained traction and became a benchmark, underpinning the vast majority of our cases and enabling office holders to act swiftly and commercially. It is a model which has delivered results — not just for Manolete, but for the entire insolvency ecosystem.
Why assignment works better
- Speed: Buying a claim allows us to press ahead without significant delay working collaboratively with Insolvency Practitioners and their chosen solicitors.
- Cashflow: We pay a non-returnable upfront sum, helping with WIP and liquidity.
- Simplicity: If facts later emerge which make it sensible to drop a case, we can do so quickly — the IP keeps the upfront payment.
- Protection: We provide the IP and the estate with a complete indemnity
- Creditor return: We guarantee at least 50% of net proceeds to the estate once a case concludes and the Insolvent Estate always receives more than Manolete.
The numbers speak
- In the last financial year, we signed 287 cases. 284 were purchased via assignment, just three were funded.
- Over our history (to March 2025), we have purchased 1,439 claims and funded only 196.
- More than 200 IP firms have worked with us — and all have returned with further cases.
For IPs and their solicitors, the advantages are clear: assignment means faster recoveries, lower costs, less risk, and more for creditors. It’s the model we’ve built our business on — and it’s where we see the future of insolvency litigation.
Andrew Cawkwell - Chief Operating Officer