We are pleased to report that we have today financed our 90th insolvency litigation case.
The number of cases backed by Manolete has now almost doubled in the last 10 months to 90.
We continue to work with insolvency and rescue advisors across the UK – from the "Big 4" through to one and two partner specialists in the UK regions.
A key development in the last year has been the large increase in cases referred to us by specialist insolvency law firms.
Manolete continues to finance claims from as little as £20,000 through to £50m+ claims.
In recent weeks noteworthy concluded cases include the following (figures are the cash settlement figures):
- £362k wrongful trading claim
- £375k preference claim
- £143k breach of franchise agreement
- £30k preference claim
- £40k supplier dispute
- £105k Transaction at Undervalue
- £40k illegal dividend claim
On average Manolete are settling insolvency claims at the rate of one per week.
Smaller claims tend to be settled within a few weeks. The average across the entire portfolio of 90 claims (including several very large, long running cases) is just 5 months.
In all cases over 80% of the settlement figure is available for distribution to the insolvent estate and Manolete.
Once we complete our 100th insolvency litigation investment we will be publishing a full review of Manolete's performance across the portfolio of cases.