Litigation funder Omni Bridgeway, which is financing two cladding class actions in Australia, has commenced similar legal proceedings in New Zealand.

It has filed a lawsuit in the country’s High Court against the makers of Alucobond PE core cladding products on behalf of property owners or leaseholders who have suffered, or will suffer, financial loss associated with removing and replacing the materials or taking other remedial measures.

The class action seeks compensation for property owners of residential, commercial, public, mixed-use, and other non-residential buildings on which there is certain Alucobond aluminium composite panel cladding, with a core comprised wholly or substantially of polyethylene.

“I am pleased that the Omni Bridgeway-funded New Zealand Combustible Cladding Class Action has commenced on behalf of affected building owners in the same way as we have already done in Australia, to support the claimants in pursuing compensation from the manufacturers,” Investment Manager Gavin Beardsell said.

One of the two lawsuits in Australia is against a manufacturer of Alucobond PE products.