Provenio launches insolvency litigation division
Liverpool law firm Provenio Litigation launches new division focusing on insolvency litigation and financing. Tony McDonough reports
Provenio Litigation is to help insolvency practitioners make the best possible recoveries for the creditor estates as part of a new venture.
Optimise is a brand being launched by the Liverpool law firm. It will offer liquidators or administrators an upfront payment and an agreed percentage of the final recovery on the claim. All claims are managed by the Provenio Litigation team.
Joining Optimise as client services director is highly accountant and insolvency practitioner, Paul Flint. Paul is the former managing director and regional head of restructuring for Alvarez and Marsal in the North West.
He brings decades of experience providing restructuring advice and support to under- performing businesses and their stakeholders.
His assignments have covered owner managed businesses to public listed companies. Prior to his time at Alvarez and Marsal, Paul spent 31 years at KPMG.
Optimise managing director Mark Goodwin said: “Optimise has been developed for a wide range of insolvency litigation related claims.
“These include overdrawn directors’ loan accounts, breach of contract, breach of duty, transactions at undervalue, preferences, unlawful dividends, wrongful trading and claims against third parties.
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“Our established arrangement with a leading litigation funder avoids the lengthy delays often associated with seeking approval from third party funders and the fees of introducing brokers, which allows us to return greater recoveries to the insolvent estate.
“The feedback from our insolvency practitioner clients and contacts has been extremely valuable in developing our product to meet their requirements.”
Optimise’s management board comprises Mark Goodwin, Paul Flint and former Exchange Chambers chief executive, Tom Handley. It has also appointed Harry Goodwin as operations director.