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Rules Governing Litigation Funding Under Review in Australia by AG

Australian Attorney-General Martin Pakula has asked the Victorian Law Reform Commission to review the rules governing third party litigation funding to “prevent unfair conduct in civil proceedings, such as class actions” according to the Australasian Lawyer.

Pakula said, “This review will consider how we can better protect Victorian consumers from unfair costs, while ensuring that law firms and litigation funders continue to support worthwhile claims”. “It is incredibly frustrating when a person wins a case, only to walk away almost empty-handed because the money has been soaked up by unfair legal fees”, he said. “The days of some litigation funders charging such excessive fees need to come to an end”.

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Australian Class Action Lawyers Face Criminal Investigation Over “Grossly Unethical Behaviour”

group of class action lawyers in Australia “are facing a criminal investigation and a damages bill of more than $11.7 million for ‘dishonourable’ and ‘fraudulent’” conduct, reports the Australian Financial Times. The lawyers and litigation funder involved attempted “to claim more than $19 million in legal and funding fees from a group of elderly investors in the Banksia class action.”

Game Is Up For Litigation Funders

Last week, the Australian Financial Review featured an op-ed written by Stuart Clark, an adjunct professor at Macquarie Law School and former president of the Law Council of Australia, that highlights the need for reforming Australia’s litigation funding industry.

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