Omni Bridgeway chief executive and managing director Andrew Saker is stepping down after eight years at the helm of the ASX-listed litigation funding business.
The biggest player in Australia's litigation funding market has supported new licensing rules proposed by the federal government while also pushing for the new requirements to be extended to law firms.
IMF Bentham has struck an agreement to acquire Omni Bridgeway for up to €87.5 million ($A141 million), which will be a tie-up of two of the biggest players in the litigation funding industry.
Litigation funder IMF Bentham has announced plans to raise up to $84.5 million to establish two new funds and pursue growth opportunities in Europe and Asia.
SPECIAL REPORT: Newly appointed chief executives in Western Australia are mostly receiving lower salaries than their predecessors, but retaining plenty of upside through incentive schemes, a survey of nearly 40 new CEO pay packages has found.
Rob Ferguson has resigned as chairman of litigation funder IMF Bentham after failing in a push for the company's three executive directors, including founder Hugh McLernon, to retire from the board.
Litigation funder Bentham IMF has recruited Ferrier Hodgson partner Andrew Saker as its new managing director, to replace company founder Hugh McLernon.
Investors in collapsed engineering contractor Forge Group have been dealt more bad news, with the company's liquidators declaring shareholders' stock holdings are now worthless.
Mine site water infrastructure group GFR has become the sixth Perth-based company to call in administrators in as many weeks, citing deteriorating trading conditions and significant contract delays.
South Korean contractor Samsung C&T has announced it will take over the work previously contracted out to failed construction company Forge Group at Roy Hill.
Litigation funder Bentham IMF and law firm Slater & Gordon will pursue a potential class action against failed engineering contractor Forge Group amid allegations of misleading and deceptive conduct by the company.
A three-month battle to keep Forge Group afloat has come to a sudden end, with administrators and receivers called in to manage the company's assets after financier ANZ Banking Group withdrew support for the engineering contractor.
