A High Court ruling refusing to set aside £4.3m judgment in default in a suppressed sales case shows the strength of the litigation funding model used by Manolete Partners, it has been argued.
Deputy Master Nurse held that the defendant, the director of a restaurant business on the Edgware Road in London, had no reasonable prospects of defending the claim.
Manolete is unusual compared to other litigation funders, most notably in that it acquires 90% of its cases from insolvency practitioners and runs them itself, as opposed to simply funding them.
Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.