Ad Hoc Group of Retail Investors Seeks Representation in Bridging Finance Inc. Receivership
On June 16, 2021, the Ad Hoc Group of Retail Investors in Bridging Finance Inc. (“Bridging”) brought a motion before the Ontario Superior Court of Justice to appoint representative counsel for the 25,000 retail investors in the funds managed by Bridging.
The Ad Hoc Group believes that retail investors require representation that is independent from the financial advisors and institutions that marketed and sold Bridging units in order to ensure that retail investors can meaningfully participate and protect their rights in the receivership proceeding.
On June 22, 2021, the Court indicated it would revisit the issue in 60 days to allow the Receiver to conduct a portfolio review. In the interim, the proposed representative counsel, Reconstruct LLP, will monitor the proceedings on behalf of the Ad Hoc Group.
If you are a retail investor in a Bridging fund and you would like to join the Ad Hoc Group, please contact counsel to the Ad Hoc Group by email at info@reconllp.com or call 416-613-8280.