Omni Bridgeway

All articles about Omni Bridgeway.

UK-based litigation funders have amassed record war chests to finance the growing interest in class action law suits, according to a new study by RPC. Litigation funders' assets jumped 11% last year to hit £2.2bn, almost double the £1.3bn that had been built up in 2017/18 and a more than ten-fold increase over the past decade. RPC's analysis is based on regulatory data submitted by 15 of the largest UK litigation funders. Raymond van Hulst, EMEA executive director of Omni Bridgeway notes, however, that while low interest rates and excess liquidity had previously driven growth, a combination of rising inflation and higher interest rates means only the most successful funds will likely be attractive going forward and funders with low success rates will struggle.
Mark Wells has joined Omni Bridgeway in London as Global Head of Portfolio Management. Before joining Omni Bridgeway, he co-founded litigation funder Calunius Capital in 2006 where he was Managing Partner. Previously, Mark spent nearly two decades in derivatives trading and structuring at major banking institutions including JPMorgan/Chase and Toronto Dominion. Mark will be responsible for further developing Omni Bridgeway’s global fund and capital management strategy and head the global pricing and financial structuring team.
Omni Bridgeway has announced new appointments in its Asia Pacific leadership team. Oliver Gayner (Sydney) and Tom Glasgow (Singapore) assume new roles as Managing Directors and co-Chief Investment Officers (APAC), responsible for jointly overseeing all aspects of Omni Bridgeway’s investment management, due diligence processes and operations across the Asia Pacific region. The firm has also announced that Tania Sulan will assume a newly-created role as Managing Director –Transformation, in which she will oversee the implementation of strategic projects for the Board.
Six years after Adam Gerchen and Ashley Keller sold their litigation finance company for roughly $160 million, they’re back with a new plan: Buying up pieces of lawsuits from their old competitors. The pair’s new venture has raised $750 million for the first litigation fund aimed at secondary transactions. Gerchen’s new fund has deployed about $225 million, and one of its deals became public for the first time last week. It purchased a 30% claim from Omni Bridgeway in an Australian class action over “combustible cladding,” building materials prone to catch fire. Gerchen Capital paid $19.5 million, generating a $16 million profit for Omni Bridgeway, according to a regulatory filing. 
CAC Specialty is excited to welcome Megan Easley to its Contingent Risk Solutions Team as a Vice President. Megan joins CAC Specialty from Omni Bridgeway, one of the largest litigation funding groups in the world. CAC Specialty is a leading broker for litigation risk insurance policies in the United States, with $2 billion in insurance limits placed last year. Megan earned her Bachelor of Arts Degree in English from Georgetown University and her J.D. from Cornell Law School and clerked on the U.S. Court of Appeals for the Second Circuit.
Northleaf Capital Partners (Northleaf) has announced that it acted as the lead arranger of a A$250 million senior secured credit facility for Omni Bridgeway (ASX: OBL), a global leader in financing and managing legal risks. “We are delighted to partner with Omni Bridgeway, leveraging our specialty finance expertise to support the firm’s continued global growth," said CJ Wei, Vice President at Northleaf. Northleaf’s private credit program seeks to provide investors with diversified exposure to private credit investments globally, with a focus on floating rate loans to middle market companies and specialty finance platforms in North America, Europe and Australia.
The International Legal Finance Association (ILFA) has announced its new board of directors, its chairman, and the executive committee. Gary Barnett, Executive Director of ILFA, welcomed Neil Purslow, who co-founded Therium, as the new Chairman. The Executive Committee Officers include: Christopher DeLise of Delta Capital, Susan Dunn of Harbour Litigation Funding, Jack Neumark of Fortress Investment Group LLC, Andrew Saker of Omni Bridgeway and Marcel Wegmüller of Nivalion.
Tim DeSieno of Omni Bridgeway, Henrique Forssell of Sao Paulo-based Duarte Forssell Avogados, Enrique González of Mexico City-based González Calvillo and Nyana Abreu Miller of Miami-based Sequor Law presents a hypothetical corporate insolvency case study that illustrates how dispute funding can play a vital role in complex cross-border disputes involving multiple jurisdictions in Latin America.
Australian passengers who booked on Scenic Tour's ill-fated 2013 European river cruises have been awarded up to $20,635 each in damages, according to court documents published last week. The class action against Scenic involves approximately 1,200 claimants and the Court’s judgment may see Scenic facing a damages bill of up to $28 million including interest. Somerville Legal, alongside litigation funder Omni Bridgeway, is currently investigating the commencement of a further class action against Scenic as a result of similarly disrupted cruises that took place in 2018. 
Brown Rudnick has released the agenda for its first annual European Litigation Funding Conference taking place on 17 May 2022 in London. The one-day conference has drawn big names from the international litigation funding market who will discuss topics such as opportunities and innovation in deal structuring, the rise of class actions and opportunities in Europe.

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