The law firm behind a class action against German manufacturer 3A Composites over allegedly combustible cladding is seeking to add a new representative group member to cover the claims of owners of property with Alucobond panels.
A judge overseeing two class actions over allegedly flammable combustible cladding used in buildings throughout Australia says he will likely keep the trials separate to avoid a ‘behemoth’ hearing.
Litigation funder Omni Bridgeway has thrown its weight behind a David-versus-Goliath legal challenge by an inventor who accuses Coca-Cola of infringing a patent for a drink container and lid used in popular brands such as Mount Franklin water and Powerade sports drink.
A $50 million settlement has been reached in a long-running shareholder class action against defunct vocational training company Vocation that also spawned multiple cross-claims against the failed company’s auditor PricewaterhouseCoopers, law firm Johnson Winter & Slattery and individual directors.
The states of Victoria and Queensland have joined two class actions over allegedly combustible cladding as group members, with the claims in the proceedings now exceeding $500 million.
Two leading figures in the litigation funding industry come together amid an anticipated bump in the demand for litigation finance in the next decade, creating a new funder expected to be a “formidable force” in an increasingly competitive market.
New laws aimed at regulating litigation funders are due to commence on Saturday, but Treasurer Josh Frydenberg is keeping a lid on four emails exchanged with the watchdog in the days leading up to the decision to bring in the sweeping changes.
The Murray Goulburn class action has been cited repeatedly in the current parliamentary inquiry into class actions and litigation funding. For some, the return generated by Omni Bridgeway, which funded the action, is Exhibit A in the case that litigation funders make too much money. To others – including the one person in the best position to judge – it is nothing of the sort, says Clive Bowman of Omni Bridgeway.
The commission rates of litigation funders have come under attack on the first day of a parliamentary inquiry into class actions, with the CEO of funder Omni Bridgeway in the firing line over a $10.5 million cut of a recent $42 million settlement in a class action against milk supplier Murray Goulburn.