£475k
Wrongful
Trading
  

header 986

 
   

 IP Firm

Top 6 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
April 2014

Completion Date
February 2016 (22 months)

 

     
   
 

This was a claim against a two Directors of a major construction company. Both had continued to extract material monies from the Company's funds into their personal accounts despite the Company's clear inability to pay its creditors as they fell due. The creditor deficiency continued to rise with no prospect of the Company avoiding inevitable insolvency. The Directors agreed to mediate and made an offer of £200k. The Office Holder was not satisfied with this sum and issued the claim. Manolete (as always) provides full cover for all adverse cost risk at not extra cost, so this was a simple and quick decision for the Office Holder to take.

As the trial date approached the Directors sought to open new settlement discussions. A settlement was finally reached that enabled all IP and lawyer costs to be met in full and a good prospect of a dividend to creditors.

“Another excellent result working with Manolete Partners”.
– QUOTE FROM THE OFFICE HOLDER

 
 
£475k
Wrongful
Trading
 

header 986

 
   

 IP Firm

Top 6 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
April 2014

Completion Date
February 2016 (22 months)

 

     
   
 

This was a claim against a two Directors of a major construction company. Both had continued to extract material monies from the Company's funds into their personal accounts despite the Company's clear inability to pay its creditors as they fell due. The creditor deficiency continued to rise with no prospect of the Company avoiding inevitable insolvency. The Directors agreed to mediate and made an offer of £200k. The Office Holder was not satisfied with this sum and issued the claim. Manolete (as always) provides full cover for all adverse cost risk at not extra cost, so this was a simple and quick decision for the Office Holder to take.

As the trial date approached the Directors sought to open new settlement discussions. A settlement was finally reached that enabled all IP and lawyer costs to be met in full and a good prospect of a dividend to creditors.

“Another excellent result working with Manolete Partners”.
– QUOTE FROM THE OFFICE HOLDER

 
 

header 986

£475k
Wrongful
Trading

 IP Firm

Top 6 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
April 2014

Completion Date
February 2016 (22 months)


This was a claim against a two Directors of a major construction company. Both had continued to extract material monies from the Company's funds into their personal accounts despite the Company's clear inability to pay its creditors as they fell due. The creditor deficiency continued to rise with no prospect of the Company avoiding inevitable insolvency. The Directors agreed to mediate and made an offer of £200k. The Office Holder was not satisfied with this sum and issued the claim. Manolete (as always) provides full cover for all adverse cost risk at not extra cost, so this was a simple and quick decision for the Office Holder to take.

As the trial date approached the Directors sought to open new settlement discussions. A settlement was finally reached that enabled all IP and lawyer costs to be met in full and a good prospect of a dividend to creditors.

“Another excellent result working with Manolete Partners”.
– QUOTE FROM THE OFFICE HOLDER