Recent legislative and regulatory developments, including the Federal Government's draft regulations to deregulate litigation funding in class actions and the Civil Procedure (Representative Proceedings) Bill 2021, which...more
More Detail: Regulation of Litigation Funding in Class Actions
In 2009, the Full Court of the Federal Court of Australia, in Brookfield Multiplex Ltd v International Litigation Funding Partners Pty Ltd [2009] FCAFC 147,...more
There is no "one size fits all" approach to competing class actions.
Five competing and overlapping shareholder class actions were commenced in two separate Australian courts against AMP Limited. All actions were...more
The Situation: Australia has become a hot spot for class actions fueled in large part by litigation funders, who have operated for many years in a largely unregulated market and have derived spectacular returns from their...more
The Situation: Following a boom in class actions backed by litigation funders, the Australian Federal Government has introduced new regulations which classify litigation funding schemes as "managed investment schemes" and...more
The Background: The defendant was faced with two "open" class actions (i.e. including all putative group members) in relation to the same allegations.
The Issue: The defendant sought a court order permanently staying...more