New insolvency litigation and financing start up operating “at a much higher level than projected”

New insolvency litigation and financing start up, Optimise, is trading “at a much higher level than projected” two months on from its launch.

The new business - launched by law firm Provenio Litigation LLP - financially supports the work of insolvency practitioners to make the best possible recoveries for the creditor estates. 

The liquidator or administrator receives an upfront payment and an agreed percentage of the final recovery on the claim. All claims are managed by the Provenio Litigation team.

“Since launching the business earlier this year, we have received multiple enquiries from insolvency practitioners and lawyers,” explained Client Services Director, Paul Flint, the former Joint Head of Alvarez and Marsal Restructuring North West.  

“These enquiries include claims against former directors of between £100,000 and £1 million and transactions at an undervalue of up to £13 million. The level of interest has confirmed our belief that there are a wide range of claims to be brought on behalf of officeholders and our first 2 months of trading have been at a much higher level than we projected.  We are on track to become to a significant disruptor in a mature market dominated by one supplier.”

On the back of the Insolvency Service’s February 2024 figures showing a 17% year-on year increase in company insolvencies, Optimise Managing Director, Mark Goodwin believes interest in the business will continue to increase.

“The latest insolvency figures are higher than when Covid-19 support measures were in place and significantly higher than pre-pandemic numbers,” he added.  “We believe insolvencies will continue to rise for a number of months yet.  Against this backdrop, Optimise is being utilised for a wide range of insolvency litigation related claims including overdrawn directors’ loan accounts, breach of contract, breach of duty, transactions at undervalue, preferences, unlawful dividends, wrongful trading and claims against third parties.”

Further details.