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We are delighted to report that we have agreed a significant six figure settlement on a TUV case that we have been funding for a small North West based recovery firm. The firm approached us in November 2011 with the opportunity to fund the Liquidator on a potential Transaction at Undervalue claim. After a short one week due diligence we agreed the funding package, which included an initial cash payment to the insolvent company. Working closely with senior commerical counsel at 11 Stone Buidlings and Kidd Rapinet solicitors, Manolete Partners co-ordinated and funded the entire process, all the way through to trial. The process included Manolete paying for an independent expert valuation report which was undertaken by the London Office of RSM Tenon. With just three weeks to go before the scheduled five day trial, a substantial settlement was agreed with the defendants.

Having recovered our legal costs, we then paid the majority of the substantial six figure net proceeds to the insolvent company, with the remainder representing our return on our investment.

For further information contact Steven Cooklin: steven@manolete-partners.com Tel: 01494 618520.


 

 

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