The Manolete Method
We work in a three-way partnership with IPs and their lawyers to ensure meritorious claims are pursued and resolved. We can pay large up-front cash payments.
The Manolete model:
Funding & assignment of claims
Insolvency Practitioners/ Lawyer Enquiry
IPs and their lawyers regularly contact Manolete to discuss cases they think Manolete may be interested in purchasing or funding. All we need essentially is a short summary of the claim and the key evidence supporting it.
Manolete offer to Assign/Fund
We carry out a thorough net-worth test and our Investment Committee decides in about a week whether we can finance the case. The IP always chooses their own lawyers. Whether Manolete is funding the IP or has taken an assignment, the IP stays as closely involved in the case as he or she wishes.
Sign Manolete agreement
We use a simple, standard purchase or funding agreement. There is no requirement for ATE - instead all costs (including adverse costs) are covered by our full indemnity.
Legal process
We contact the other side with a pre action letter so they know as soon as possible that Manolete is financing the case.
Settlement/ Judgment
Many cases settle on commercial terms. Cases are taken to trial if necessary.
Insolvency Practitioners/ Lawyer Enquiry
IPs and their lawyers regularly contact Manolete to discuss cases they think Manolete may be interested in purchasing or funding. All we need essentially is a short summary of the claim and the key evidence supporting it.
Manolete offer to Assign/Fund
We carry out a thorough net-worth test and our Investment Committee decides in about a week whether we can finance the case. The IP always chooses their own lawyers. Whether Manolete is funding the IP or has taken an assignment, the IP stays as closely involved in the case as he or she wishes.
Sign Manolete agreement
We use a simple, standard purchase or funding agreement. There is no requirement for ATE - instead all costs (including adverse costs) are covered by our full indemnity.
Legal process
We contact the other side with a pre action letter so they know as soon as possible that Manolete is financing the case.
Settlement/ Judgment
Many cases settle on commercial terms. Cases are taken to trial if necessary.
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Simple
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Fast
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Effective
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Fair
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Example 2: Case Lost at Trial
Claim: Preference: Headline Value £400,000, zero recovery
IP signs funding agreement with Manolete
Provides IP and Estate full protection from adverse costs
Manolete pays Estate initial consideration of £40,000 (non-refundable)
IP's choice of Lawyers continue conduct of litigation
No preferred "panel" of solicitors
Legal team paid as work incurred, no CFA requirement
Case Lost: Adverse costs award against IP of £80,000.
Own costs: £60,000
Manolete pays adverse cost awarded £80,000
Manolete writes off entire investment of £180,000
Result
Estate: £40,000
Legal Team: £60,000
Adverse costs paid by Manolete: £80,000
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Example 1: Case won
Claim: Director's Loan Account + Unlawful Dividend:
Headline Value £400,000, settles at £300,000Manolete takes assignment of the claim
Provides IP and Estate full protection from adverse costs
Manolete pays Estate initial consideration of £40,000 (non-refundable)
IP's choice of Lawyers continue conduct of Litigation
No preferred "panel" of solicitors
Legal team paid as work incurred, no CFA requirement
Case settles for £300,000
Legal Costs paid: £40,000
Net Proceeds: £220,000Estate paid a further £121,000 (total received £161,000)
Manolete re-paid costs of £40,000 + £99,000 share of net proceeds
Result
Estate: £161,000
Legal Team: £40,000
Manolete: £99,000
Ate Costs: £0