NRF advises on significant deal for Australian mortgage sector

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NRF advises on significant deal for Australian mortgage sector

Norton Rose Fulbright has advised Australian mortgage aggregator Connective Group on its merger with ASX-listed financial solutions firm Australian Finance Group.

The $120 million deal will create a significant mortgage distribution network with more than 6,575 brokers and combined mortgage settlements of $76 billion in FY19.

The NRF team was led by corporate M&A partner Jasmine Sprange, restructuring partner Alex Mufford and special counsel Bernie Walrut.

The partners were supported by special counsel Sarah Chen, senior associate Oliver Kabongo and associates Michael Phillips and Liya Wu, with specialist support from partners including Belinda Harvey (Competition).

The deal is subject to approval from a court, regulators, and shareholders.

Law firms retained for Burford Capital market manipulation probe

Burford Capital has retained three law firms following its initial investigation into alleged market manipulation relating its shares.

The litigation finance firm says its analysis of the trading of its shares last week suggests activity consistent with illegal market manipulation. It has made the authorities aware of these findings.

Last week the firm said it believed it was being targeted in a ‘short attack’ following a drop in its share value on the London Stock Exchange.

It issued a rebuttal following a report by US research group Muddy Waters which questioned the firm’s solvency.

Burford now says that it has retained Quinn Emanuel Urquhart & Sullivan LLP, Freshfields Bruckhaus Deringer LLP and Morrison & Foerster LLP in connection with these matters.

The firm’s analysis of the trading of its shares continues.

Clyde & Co adds new energy to Sydney team

Clyde & CO senior associate Sophie Shiffman has made the 17,000 km journey from London to Sydney to join the office’s energy team.

She was part of the London office’s energy insurance team for the past 8 years and has extensive experience assisting offshore and onshore energy insurers.

Ms. Shiffman has advised on some of the largest and most complex wind and solar losses in international markets and has recently co-written a paper on Asian renewables insurance, reflecting on commonly arising claims issues in China, Taiwan, Japan and South Korea.

"Given the growing demand for renewables cover in APAC, Sophie is well placed to advise the Australian market on coverage and recoveries, drawing on her international experience," said partner Gareth Horne.