One of the defining features of the Manolete Model is our comprehensive indemnity for Insolvency Practitioners (IPs), a cornerstone of our business which enables IPs to pursue meritorious claims confidently.

While other aspects—like the frequent assignment of claims and the high rate of pre-court settlements (typically within 12 months)—are integral to our model, our full indemnity against adverse costs is crucial in supporting IPs to act in creditors’ best interests without fear of personal financial risk.

IPs may find themselves personally liable for litigation costs, which can limit their ability to pursue even strong cases. Court outcomes are unpredictable, and insolvency claims are often complex; sometimes, unexpected matters can lead to an adverse decision. The risk of incurring significant costs can understandably deter IPs, especially when dealing with delinquent directors. In such cases, IPs may hesitate to act, potentially impacting the value returned to creditors through delay.

Why Indemnity Matters for IPs
Manolete’s model offers a complete indemnity, removing the downside risk of personal liability. This indemnity is comprehensive, covering all adverse costs and unaffected by any “Arkin cap,” which typically limits a commercial litigation funder's liability for adverse costs only to the amount of funding they provide. With this indemnity in place, IPs are free from needing expensive After The Event (ATE) insurance, so eliminating the dilution effect that insurance premiums would impose on recoveries.

Additionally, IPs gain the assurance of a large, experienced team backing them. When IPs enter into an agreement with Manolete, they know they have a ‘big brother’ standing alongside them. As a result, Manolete has facilitated over 1,350 cases without any defendant obtaining a security for costs order against us or any of our funded parties, demonstrating the robustness of our financial backing. The Manolete indemnity avoids the issues that can arise in relation to ATE as illustrated in a recent judgment Asertis Ltd v Lewis Barry Bloch [2024] EWHC 2393 (Ch).

Accelerated Case Resolution
Our indemnity allows IPs to act quickly. By providing the necessary security and initial cash flow, we eliminate common barriers to pursuing claims, resulting in a swift process from start to finish. With Manolete’s backing, IPs can pursue the recovery of funds from directors more efficiently—our average case duration is around 12 months. This rapid pace is in sharp contrast to traditional insolvency proceedings, which can deplete recoveries due to the build-up of WIP over years of protracted litigation.

Moreover, any purchase agreement with Manolete includes a clear indemnity provision, typically worded as: “The Purchaser shall indemnify and keep the Company and the Liquidator and each of them fully indemnified against any claim or loss arising from the proposed litigation, including any amount payable pursuant to an order for costs in the proposed litigation, whether incurred by any adverse party before or after the date of this Agreement.”

This guarantee is possible only because of Manolete’s strong financial footing. If an IP wishes to exit a case, Manolete can purchase the claim in its entirety, removing all risks from the IP and providing full indemnity.

Maximising Value for Creditors
The holistic purpose of the Manolete model—through swift settlements, cost minimisation, and maximised returns—ensures that IPs can steer clear of costly, prolonged litigation. In other areas of insolvency, cases can drag on, depleting creditors' funds, but Manolete's comprehensive indemnity allows IPs to pursue directors without financial risk, ensuring that wrongdoing is addressed and creditors’ interests are prioritised.

Our model gives IPs the confidence to face the waves of insolvency litigation, knowing they have full protection to navigate even turbulent waters and bring home the maximum return for the insolvent estate.

Andrew Cawkwell
Associate Director for the North East and Head of Business Development

AWARDS
Financial Times Europe's Long-Term Growth Champions 2025

Manolete has announced that it has been named a Financial Times Europe Long-Term Growth Champion 2025.

With compound growth measured over a minimum 10-year period, the FT Long-Term Growth Champion award recognises Europe’s fastest-growing companies with a commitment to sustainable expansion. It ranks Manolete 152nd across the whole of Europe and 25th position in the UK. For the full list please see here.

Manolete Chief Executive and Founder, Steven Cooklin, said: “The whole company is very proud to be named as a Financial Times Europe Long-Term Growth Champion for 2025.

“The award is recognition of the dedication and drive of our incredible team of in-house Manolete lawyers, and the strong partnerships they have built with outstanding Insolvency Practitioners and solicitor firms, across all regions of the UK. Those partnerships are the foundation of our reliability, consistency and innovation. Manolete is continuously working to deliver best-in-class insolvency litigation financing services and solutions. It means a great deal to stand among Europe’s top-performing firms showing our commitment to sustainable growth and dedication to those we partner with.”

Q&A

Amber Holt
Business Development Manager

What is your career background?
I’ve had a diverse 35-year career in the legal sector, starting out as an Office Junior and progressing through roles in Commercial Litigation (Secretarial), Office Management and Recruitment. After being headhunted by a recruitment agency, I discovered my passion for sales and marketing. Since then, I’ve held senior business development and marketing roles within law firms and have directly contributed to the success of each company I have worked with.

How long have you been at Manolete?
I was delighted to join Manolete at the beginning of July.

What have been your main impressions?
Everyone at Manolete has been incredibly friendly and supportive, but what truly stands out to me is the team's vast expertise. I'm constantly amazed by the outstanding results they achieve.

What are the other highlights?
I bring a wealth of experience to my role at Manolete, but here I’m exposed to new challenges and I love that! It keeps things interesting for me and I’m learning something new every day.

What do you do outside of work?
I am a self-proclaimed 80s/90s pop princess and love nothing more than going to see live music – recent gigs include Duran Duran and Ricky Astley.

Elephant Dust by Stephen Baister writes
Elephant dust

There’s a man with a shovel spreading dust. “What’s that for?” someone asks.
“It’s to keep the elephants away,” he replies.
“But there aren’t any elephants here,” the questioner points out.
“I know. Great stuff isn’t it?”

I thought this was a good joke when I first heard it as a child. Later a possible application to nuclear deterrence struck me: how can anyone know whether it works or not?

It came to mind again when earlier this year, former MP Margaret Hodge complained that not a single company had been charged with tax evasion under the Criminal Finances Act 2017. That may point to a lack of will to use the legislation; it might also mean that it has struck such terror in the corporate world that companies are now simply paying up, so there is no need to prosecute anyone.

The fact is that all governments pass laws that are never or rarely used. They have come onto the statute book because someone somewhere needs to show that he/she/the government is doing something about something or “cracking down” on something or other. How much of our legislation is ever actually used or has any effect is something we can probably never know, although the question has been the subject of research.

If you want to read more you could begin with Jeroen Koomans’ “The Effectiveness Paradigm in Financial Legislation – Is Effectiveness Measurable?” in the Erasmus Law Review 2020/2, Naseem Abdullah Aliwi’s “Methodological applications for measuring the impact of legislation” in the Baltic Journal of Law and Politics 2023/16 No 3 – and much more.

Case study
The Manolete Model in Action

Events

R3 are pleased to announce the annual SPG Forum at the Belfry Hotel and Resort as they explore the big issues facing smaller practices.

The SPG Forum 2024 is the flagship conference for R3 members working as either sole Insolvency Practitioners or in small practices.

You can join over 250 delegates from across R3's Smaller Practices Group (SPG) to hear from expert speakers providing practical insights and learnings on a wide range of key issues for the Smaller Practice community.

There will be plenty of opportunities across lunches, dinners and golf to network and build connections with fellow professionals from across the smaller practice community.

Charlotte May, Manolete Associate Director for the South West and Wales, will be speaking on the afternoon of Day 2 giving 'Updates on s.423 and sham transactions.'

Location
The Belfry,
Lichfield Road
Wishaw
Sutton Coldfield
B76 9PR

Find out more