Every case we buy or fund always includes a first rate solicitor team. We do not operate a formalised panel – if you bring us the case, you get to work on it with us.
We receive a number of cases each month from IPs where there is no solicitor yet appointed - so once we get to know you, you will then be in line to be appointed on a number of those cases. In this way Manolete Partners soon becomes a major new repeat client with the solicitor firms we work with.
While working with us means working to agreed budgets, milestones and timetables, we never make our solicitors or barristers work contingently nor conditionally (unless they want to). We pay normal charge-out rates, on a timely basis - according to the budget that we have agreed with you.
Law firms that we are currently working with include:
Howard Kennedy Fsi
Large Case Integrated Product ("LCIP")
On larger cases we offer our LCIP model. For cases with a claim value of £750k and above, the LCIP agreement will deliver to the solicitor a fixed monthly cash fee over the expected lifetime of the case. If the case is completed ahead of the budgeted number of months, the solicitor receives all unpaid months immediately upon completion of the case. For example, assume the claim value is initially £1m. Under the LCIP agreement with you, we have agreed to pay you £5,000 per month over an 24 month budget timeframe (total solicitor budget £120,000). Assume at end of month 9 we settle the case at £800k. By then you would have received in cash £45,000 (9 months at £5k per month). As a "top slice" of the proceeds you would then receive the additional £75,000. Net proceeds on the case would then be £680k, which we would share in the normal way with the insolvent company.
The benefits of the LCIP to solicitors:
* guaranteed monthly cashflow from Manolete Partners
* a major incentive to get the case settled quickly (aligning the interests of the legal team, the IP and Manolete)
* knowing that your cases have the full financial power of Manolete Partners behind them (a major driver to our fast case completions)
* when running multiple LCIP cases with us, we will become a major contributor to your cashflow
Please contact us directly if you wish to discuss detailed terms of the LCIP funding model.