Buildings in Cladding Legal Fight ‘Number in the Thousands’

Australian authorities have deemed more than 3,400 residential apartment buildings unsafe due to their construction with combustible cladding, and the task of attributing liability for the crisis is shaping up to be the biggest courtroom battle in the country this year. Omni Bridgeway is working with William Roberts Lawyers on two class actions and is also investigating possible class actions against other manufacturers of cladding products deemed to be combustible. More from The Urban Developer.

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Omni Bridgeway hires in Canada

Laura Scheim has joined Omni Bridgeway in Montreal as an associate investment manager and legal counsel. Laura was previously in the litigation group of Osler, Hoskin & Harcourt LLP and brings expertise in commercial and tax litigation. She also clerked at the Supreme Court of Canada and the Quebec Court of Appeal. 

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Suncorp to pay $33 million over super class action

Suncorp is set to pay $33 million to settle an Australian class action brought by superannuation members in 2019 over conflicted remuneration paid to financial advisers. The class action was brought by William Roberts Lawyers in June 2019 with the backing of LCM, who are set to receive $14 million inclusive of costs.

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Omni Bridgeway establishes institutional debt facility

Omni Bridgeway has established a A$250 million institutional debt facility. The facility has been used in part to redeem certain bonds and wholesale notes prior to their scheduled maturity. The facility also includes an additional commitment of A$102 million of debt capital to enable the company to optimise its medium-term capital management. The debt facility was provided by funds managed by Northleaf Capital Partners and Pacific Equity Partners. Law firm G + T advised on the financing, acting as lead counsel across eight jurisdictions.

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