A litigation funder based in the UK is pondering listing on the London Stock Exchange.
Manolete Partners founder and CEO Steven Cooklin has confirmed to The Law Society Gazette that the company is “looking very seriously” at a float on the bourse. Though official financial details have not been released, other reports say the listing could value Manolete at about £100m.
“The demand for our capital from liquidators of UK and international companies is at record levels, and we do not foresee a slow down any time soon. This is great news for the creditors who have suffered, because the large majority of our recoveries go back to them via the normal insolvency procedure,” Cooklin said.
“Litigation funding is particularly well suited to insolvency claims – the insolvency regulators in the UK insist that liquidators always consider third party funding. Our funding offerings are specifically tailored for the unique demands of insolvency claims,” he said.
Manolete has invested in more than 200 insolvency cases. It is the UK’s biggest insolvency litigation financing company.
Cooklin, a UK chartered accountant, founded the firm in 2009. He is a former director of HSBC Investment Bank’s corporate finance division and has founded several companies that focused on internet marketing, venture capital, and corporate advisory and finance.