The Federal Court of Australia has today granted leave for the claimants in the two combustible cladding class actions to expand the claims against the respective defendants in those actions. The class actions are being funded by IMF Bentham and the claimants are represented by William Roberts Lawyers.
The first action, commenced in February 2019
, is against the manufacturers of ‘Alucobond’ PE core cladding products, 3A Composites and HVG. The second action, commenced in June 2019
, is against the manufacturer of ‘Vitrabond’ PE core cladding products, Fairview Architectural Pty Ltd.
In addition to the product liability claims against the defendants, the actions will now also include claims for false or misleading representations and misleading conduct with respect to Alucobond PE Core Cladding and Vitrabond PE Core Cladding.
The court also made orders for the advancement of both cases.
Gavin Beardsell, Investment Manager at IMF Bentham commented “This is good news for the claimants in both class actions. We hope that further progress will be made swiftly and economically.”
ABOUT IMF BENTHAM AND OMNI BRIDGEWAY
Following the merger of the IMF Bentham and Omni Bridgeway operations in November 2019, the combined group is a global leader in dispute resolution finance, with expertise in civil and common law legal and recovery systems, and operations spanning Asia, Australia, Canada, Europe, the Middle East, the UK and the US. IMF Bentham and Omni Bridgeway offer end-to-end dispute finance from case inception through to post-judgment enforcement and recovery.
IMF Bentham has built its reputation as a trusted provider of innovative litigation financing solutions and has established an increasingly diverse portfolio of litigation and dispute financing assets. IMF Bentham has a highly experienced litigation financing team overseeing its investments, delivering, as at 30 June 2019, an 89% success rate across 192 completed cases (excluding withdrawals). Visit imf.com.au
to learn more.
Omni Bridgeway was founded in the Netherlands in 1986 and is known as a leading financier of high-value claims and a global specialist in cross-border (sovereign) enforcement disputes. The Omni Bridgeway group includes ROLAND ProzessFinanz
, a leading German litigation funder which became part of Omni Bridgeway in 2017, and a joint venture with IFC (part of the World Bank Group). The joint venture is aimed at assisting banks with the funding and managing the enforcement of non-performing loans and related disputes in the Middle East and Africa. Visit omnibridgeway.com
to learn more.