200 Case Milestone Achieved
Manolete Partners is delighted to report that is has now signed its 200th Insolvency Litigation case investment.
In late 2015 Manolete celebrated its 100th case, it had taken six years to reach that milestone. The latest 100 cases have taken just two years to sign – thus highlighting the rapid pace of growth.
In total, 103 of the cases have been assigned to Manolete under its standard Purchase Agreement. The other 97 cases have been by way of a Funding Agreement.
Across the portfolio over £40m of recoveries have been made for Creditor Estates, on claims ranging from just £20,000 upwards.
Average claim sizes have increased dramatically in the last two years as IPs and their legal teams have appreciated the benefits of Manolete’s bespoke insolvency litigation financing products:
- Immediate cash into the Estate
- Estate enjoys a 50%- 90% share of the eventual net proceeds at zero risk to the IP or the Creditor Estate
- IP’s choice of lawyers – we have no panel
- Solicitors and Barristers paid normal hourly rates and are paid as the work is completed
- Zero ATE cost (we self-fund all adverse cost risk at zero cost to the case)
- No use of brokers – thus saving substantial commission costs and enabling a much faster decision process
Manolete CEO, Steven Cooklin, commented: “We are delighted with the rate of progress. Since the advent of the Jackson Reforms in April 2016 there has been further rapid buy-in across all key stakeholders to Manolete’s Funding and Purchase solutions for insolvency claims. Huge credit goes to the Manolete staff and the IPs and lawyers who have worked with us to achieve this important milestone. The bigger the Manolete portfolio grows, the larger the portfolio benefits that we can pass on to IPs and the creditors.”