Group of Bridging Finance Investors Call for Urgent Support of Lerners LLP Initiative

TORONTO, March 9, 2022 /CNW/ - A growing number of Unitholders of the Bridging Finance Funds are urging other Unitholders to join an initiative commenced by a client of the law firm Lerners LLP. The Unitholders already backing the initiative say it is crucial for investors to come together immediately to create a viable solution given that PwC has stated they intend to end the 'sale and investment solicitation process' (SISP) despite bids for the Bridging portfolio by experienced investment managers. 

The strategy of the Group of Unitholders is to unite a large group with the shared goal of ensuring the protection of their Bridging Finance interests currently under receivership. The primary goals are ensuring all interested Unitholders have simple access to clear and factual information surrounding the available options and successfully obtaining an informed unitholder vote to decide the matter.

To learn more about the goals of this group of Unitholders and for instructions on how to join the cause, visit www.bridginginvestors.ca. Interested parties may join this cause anonymously. Our first and essential step is to demonstrate a critical mass of unitholders, represented by Lerners LLP, by end of business on Thursday March 10, 2022. Time is of the essence.

The initiative is calling for: 
(a) greater consultation and information be provided to Unitholders by PwC and Bennett Jones LLP in its capacity as court appointed representative counsel for the Unitholders; and 
(b) if appropriate, to request a factually informed vote of Unitholders to determine which of the options available to PwC is in the best interest of investors. 
The Unitholders plan to voice their concerns once again on March 25, 2022, when the Bridging Finance matter is heard in the Ontario Superior Court.

SOURCE Bridging Investors