Sectors: Construction

The Case

Therium is funding a class action on behalf of institutional shareholders of LendLease Corporation Ltd (Lendlease).

The case alleges breaches by Lendlease of its continuous disclosure obligations (and a potential further claim for misleading/deceptive conduct) under Australian securities legislation, relating principally to delays and cost overruns on a number of public infrastructure constructions projects throughout Australia which LendLease was managing.

Silhouette of worker. Construction Building casting concrete work on scaffolding.

Why It’s Significant

This class action is a consolidation of of two separate class actions brought against LendLease in the Supreme Court of New South Wales and is one of the few co-funded claims that have been pursued in that Court.

Therium’s Solution

Therium’s funding is being utilised by financial institutions who choose to use external finance to pursue their claims in preference to using their own resources.

Specialism

Class Actions / Shareholder Disputes / Collective Redress

Sector

Construction

Meet The TeamThe Team

Country Head

Simon Dluzniak

Asia Pacific
+61 (0)419 584 285
simon.dluzniak@therium.com

Investment Manager

Louise Hird

Asia Pacific
+61 (0)413 680 861
louise.hird@therium.com

View All The Team

Case Studies

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Contractual Earn-out Dispute

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Lloyd vs. Google

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The Case

Claim for breach of contract relating to a construction project in downtown Oslo between the claimant and the Municipality of Oslo. After an 8 week trial, including testimony from Henrik Jensen of Therium on how litigation funding works, the verdict from the City Court of Oslo was delivered in favour of the claimant with a net award of approx 40 million NOK. The City of Oslo did not appeal.