Manolete Partners says performing in line despite insolvency protections

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Insolvency litigation financing specialist Manolete Partners said it had performed well in the half despite insolvencies being kept at bay by government support measures for the pandemic.

Monolete said temporary measures to suppress insolvencies had largely ended, effective from 1 October, as did a number of other business support schemes.

During the six months through September, the company said 64 cases were completed, up 23% year-on-year.

Those 64 cases were settled for an aggregate settlement value of £7.9 million.

'Despite these unprecedented restrictions, the company has performed well and in line with the board's expectations during the period,' the company said.

'With a return to largely normal UK insolvency processes from 1 October, Manolete is well positioned to benefit from that and the likely, widely predicted, increase in insolvency appointments as the economy realigns from the effects of the pandemic.'