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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
  • Vol 6 (2009)
  • Vol 7 (2010)
  • Vol 8 (2011)
  • Vol 9 (2012)
  • Vol 10 (2013)
  • Vol 11 (2014)
  • Vol 12 (2015)
  • Vol 13 (2016)
  • Vol 14 (2017)
  • Vol 15 (2018)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 16 (2019)
  • Vol 17 (2020)
  • Vol 18 (2021)
  • Vol 19 (2022)

Vol 15 (2018) - Issue 2

Article preview

Manolete Partners’ Funding Approved in Royal Courts of Guernsey

Jonathan Lupton, Associate Director, and Alex Southby, Case Manager, Manolete Partners PLC, London, UK

Summary

The Royal Court of Guernsey has considered for the first time in open court whether a litigation funding agreement was lawful in its jurisdiction or whether it contravened the principles of champerty (i.e. the public policy restrictions on supporting a third party’s litigation in exchange for a share of the proceeds). The decision approved the terms of the standard funding agreement of Manolete Partners PLC ('Manolete'), finding that the agreement was valid and that there was no basis to question the decision of the office holders to enter into a funding arrangement with Manolete. The decision is an important one, as it provides some certainty on an issue which many assumed they knew what the Court’s views would be but did not have any authority from the Court confirming the same. Now they do.

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International Corporate Rescue

"International Corporate Rescue is the ultimate legal and commercial guide through the maze of complex cross border insolvency and restructuring issues."

William Q Derrough, Managing Director and Co-head of Recapitalization & Restructuring Group, Moelis & Company, New York

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