£750k
Misfeasance/Transaction
at Undervalue

header 986

 
   

 IP Firm

Top 8 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
October 2014

Completion Date
September 2015 (12 months)

 

     
   
 

This case concerned a well established family owned business, suppling specialist plant and machinery to the construction industry. A new management team took the Company over, stripped its assets into a Newco and then conducted a sham sale to distance themselves from the inevitable insolvency. No monies were left in the estate to fund litigation. The liquidator entered into funding agreement with Manolete in October 2014 and thanks to IP's outstanding investigation work we were able to force a mediation 11 months later. The case settled at mediation for £750,000 with a combination of the D&O insurers and Directors paying in full just 7 days later.

All IP WIP and legal costs were recovered in full and a significant distribution was made to the creditors.

“We were very impressed with Manolete's professionalism. It is not just your funding, it is your expert knowledge of insolvency litigation that makes all the difference.”.
– QUOTE FROM THE OFFICE HOLDER

 
 
£750k
Misfeasance/Transaction
at Undervalue

header 986

 
   

 IP Firm

Top 8 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
October 2014

Completion Date
September 2015 (12 months)

 

     
   
 

This case concerned a well established family owned business, suppling specialist plant and machinery to the construction industry. A new management team took the Company over, stripped its assets into a Newco and then conducted a sham sale to distance themselves from the inevitable insolvency. No monies were left in the estate to fund litigation. The liquidator entered into funding agreement with Manolete in October 2014 and thanks to IP's outstanding investigation work we were able to force a mediation 11 months later. The case settled at mediation for £750,000 with a combination of the D&O insurers and Directors paying in full just 7 days later.

All IP WIP and legal costs were recovered in full and a significant distribution was made to the creditors.

“We were very impressed with Manolete's professionalism. It is not just your funding, it is your expert knowledge of insolvency litigation that makes all the difference.”.
– QUOTE FROM THE OFFICE HOLDER

 
 

header 986

£750k
Misfeasance/Transaction
at
Undervalue

 IP Firm

Top 8 Accountancy Firm

 

Type of Investment

Funding the Office Holder

Start Date
October 2014

Completion Date
September 2015 (12 months)


This case concerned a well established family owned business, suppling specialist plant and machinery to the construction industry. A new management team took the Company over, stripped its assets into a Newco and then conducted a sham sale to distance themselves from the inevitable insolvency. No monies were left in the estate to fund litigation. The liquidator entered into funding agreement with Manolete in October 2014 and thanks to IP's outstanding investigation work we were able to force a mediation 11 months later. The case settled at mediation for £750,000 with a combination of the D&O insurers and Directors paying in full just 7 days later.

All IP WIP and legal costs were recovered in full and a significant distribution was made to the creditors.

“We were very impressed with Manolete's professionalism. It is not just your funding, it is your expert knowledge of insolvency litigation that makes all the difference.”.
– QUOTE FROM THE OFFICE HOLDER