To current and past holders of the CHF 150 million 3.25% 2017-2021 bonds Issued by FF Group Finance Luxembourg II SA Guaranteed by Folli Follie ISIN CH0385518052. This offer for litigation funding does not purport to be complete and is qualified in its entirety by reference to the terms of a Claims Purchase Agreement, a Claims Assignment Agreement and a Litigation Funding Agreement.
This letter summarises the principal terms on which Omni Bridgeway is prepared to offer a litigation funding arrangement to holders of the CHF 150 million 3.25% 2017 2021 (ISIN CH0385518052) bonds issued by FF Group Finance Luxembourg II SA and guaranteed by Folli Follie Commercial Manufacturing and Technical S.A. (ISIN CH0385518052) (the “Bondholder(s)” and the “Folli Follie Bonds”, respectively). Alcimos Limited (“Alcimos”) shall be cooperating with Omni Bridgeway in its efforts to assemble a group of claimants in relation to the proposed litigation funding arrangement.
Omni Bridgeway is an established, global litigation funder which already has a litigation funding arrangement in place with a group of Bondholders holding Folli Follie Bonds with a face value in excess of CHF 23 million for the purposes of bringing an action before the Swiss courts against UBS AG (the “Defendant”) on the basis of their role as bookrunners for the offering of the Folli Follie Bonds. Quinn Emanuel Urquhart & Sullivan (Schweiz) GmbH (QE) has been engaged by the group to litigate the claims based on prospectus liability.
Omni Bridgeway and Alcimos are inviting current and past Bondholders who are not subscribed to the existing group action, to sign-up to the subsequent group action on or before 15 May 2021. In order for Bondholders to be eligible to participate in the group action, subject to this offer, they must have purchased the Folli Follie Bonds prior to 2 May 2018.
Omni Bridgeway is committed to bearing the costs associated with the litigation of the claims, on a non-recourse basis on the terms of a Litigation Funding Agreement and will not be entitled to any payment (nor to reimbursement of its funded costs) unless the litigation strategy results in a recovery. No payments to Omni Bridgeway can ever be more than the ultimate recovery. Furthermore, Omni Bridgeway will be responsible for (court) fees and/or costs the Defendant may incur in the litigation process should the case be lost and the claimants be ordered to pay adverse costs.
Interested current or past Bondholders will assign their claims to CH0385518052 – Bonds Claims Enforcement GmbH, an entity which has been set-up to facilitate the efficient management of the litigation process. As such, after subscribing to the group action, it is expected that no active involvement in the litigation will be required from the Bondholders.
