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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New Fundings

Omni Bridgeway backs investor appeal

Omni Bridgeway is funding, through a managed investment scheme, an appeal made for the benefit of certain investors of two judgments made in the liquidation proceedings of Halifax Investment Services, a Sydney-based financial services business that collapsed in 2018. Omni Bridgeway will be entitled to 10% of any funds that investors will become entitled to if the appeal is successful.

Insights

‘Super priority’ rescue finance in Singapore

Arvindran Manoosegaran of Omni Bridgeway shares the details of a landmark decision for both of Singapore’s insolvency and litigation finance regimes in which the Singapore High Court ordered that Omni Bridgeway’s financing of an undisclosed private international arbitration be given super priority status in the context of a corporate restructuring, the first time that such a ‘super-priority’ order has been obtained by a funder since the introduction of Singapore’s new insolvency laws in 2018.

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