Rachael Markham of Squire Patton Boggs warns that pursuing an insolvency claim in the UK may become much more expensive following a recent court decision, though she has no doubt that litigation funders will do their best to find a workable solution to the problems that this case creates. Read more.
Manolete has reported record levels of new case investments for 2023 so far, citing the rush of insolvencies following the end of the two-year artificial suppression of the UK insolvency sector, brought about by the UK Government’s reaction to the COVID-19 pandemic.
Harper Batts and Zijian Han of Sheppard, Mullin, Richter & Hampton share that Chief Judge Colm F. Connolly’s standing orders calling for litigation funding transparency have led to a decline in patent cases filed in Delaware.
UK-based insolvency litigation funder Manolete Partners has reported that revenue and pre-tax profit in its most recent fiscal year have dropped £7.3m and £2.5m respectively from prior year. Government restrictions on the insolvency industry and widespread government support led to significantly fewer insolvencies in the market and therefore fewer cases for Manolete to sign. CEO Steven Cooklin remains optimistic though, noting that new case enquiries have been rising at an increasingly faster pace in recent months. Cumulatively, the company has reported a 132% average IRR and a 2.5x average money multiple on all the cases it has invested in since 2010.
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