Courts have no power to order all members of a class action to pay a portion of their recoveries to a litigation funder, Australia’s High Court has ruled in a decision some lawyers say is a major blow to the litigation funding industry.
Lawyers said the decision to reject so-called common fund orders will slow down, and potentially reduce, the number of class actions that are filed in Australia.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]