Coronavirus impact: 14 July - plenty of updates and a bizarre response from Manolete
Plenty of results and updates today, including a robust response from Manolete Partners, an insolvency litigation financing firm, to an article which questioned its results and reporting.
Manolete: why bother responding!We are puzzled why Manolete Partners (LON:MANO), the insolvency litigation financing firm, felt compelled to respond to a derogatory article published last week by small cap share site, ShareProphets. If anything, MANO’s detailed response only serves to highlight the complicated nature of its activities and cash flow profile, which is broadly what one should expect from a litigation funder, a large element of whose profits are based on fair value movements as opposed to real cash realisations. Many of the concerns raised by ShareProphets relate to cash flow, which is evident for all to see from MANO's results which doesn’t…