The recently released ALRC Report “Integrity, Fairness and Efficiency – An Inquiry into Class Action Proceedings and Third-Party Litigation Funders” which spans over 300 pages contains 24 recommendations.
Augusta views the majority of recommendations as being helpful to the Litigation Funding industry and access to justice. However, some of those recommendations may, in their current form, curtail the appetite of litigation funders to fund representative proceedings in Australia. Careful consideration will need to be given by a variety of stakeholders to whether such recommendations should be enacted into legislation, especially if access to justice is the primary goal.
The ALRC recommendations which appear to allocate greater risk to funders and may result in higher pricing to compensate for the risk or through reduced competition includes:
Augusta looks forward to the robust discussions which are sure to take place on the recommendations in the ALRC Report.
Neill Brennan (Australia/Far East)
T: +61 2 8311 0555
E: [email protected]