Optimise - the insolvency litigation and financing business launched by Provenio Litigation LLP earlier this year - has launched a new solution specialising in claims below £100,000.
Optimise 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.
The business is currently funding around £10 million worth of live claims.
While the majority of Optimise’s claims against former directors are valued between £100,000 and £1 million, Founder and Managing Director, Mark Goodwin says insolvency practitioners and lawyers have pointed to a lack of funding options for claims below £100,000.
To plug this gap, Optimise has launched a specialist product for lower value claims.
This new solution is made possible by Optimise's unique partnership with parent company and law firm, Provenio, and established arrangements with a leading litigation funder, enabling flexible management of legal costs.
“With our flexible approach, Optimise can consider high-value insolvency claims as well as those valued at circa £75,000 and above, which may be overlooked or deemed too small by traditional funders,” explained Mark.
“In a market traditionally dominated by one supplier, we believe this area of work has been overlooked.
“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.”