Shares in litigation funder Omni Bridgeway fell last week, after a judgment it had won in 2019 against Queensland dam manager Seqwater got overturned. More from Stockhead.
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.
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.
Dana MacGrath has launched an independent arbitrator practice, MacGrath Arbitration, based in New York. Dana was previously an investment manager and in-house legal counsel at Omni Bridgeway.