The end of the common fund order is a setback for class actions that will see a revival of the days of closed proceedings, costly bookbuilding, higher commission rates and the shelving of worthy but risky cases, experts say, and all eyes will now turn to state and federal governments to see how they respond to calls for legislative intervention.
Former Wallabies fullback Israel Folau has settled his lawsuit against Rugby Australia and NSW Rugby alleging his $5.7 million contract was unfairly terminated over homophobic social media posts.
More than a decade after the High Court ruled that third parties could finance legal proceedings in Australia, the court has issued another game changing decision that puts limits on what judges will do to help a litigation funder out. Here, Lawyerly gives you a quick guide to the key takeaways from Wednesday’s judgment.
Judges have no power to order all class action members to pay a proportion of a litigation funderās commission out of their share of a settlement, the High Court has ruled in a landmark judgment that deals a huge defeat to litigation funders.
The close relationship between regulator action over corporate wrongdoing and private enforcement is an established and powerful means of recovering compensation for victims of corporate misconduct. Increased cooperation between regulators and litigants in class actions would remove a number of substantial barriers to private enforcement action, writes Slater and Gordon lawyer Caitlin Baker.
The High Court is poised this week to issue its judgment in a case challenging the validity of common fund orders in class actions, a ruling that could see litigation funding commission rates creep back up after hitting record lows.
IP boutique Griffith Hack will soon have around 80 practicing lawyers when it absorbs Australia’s oldest specialist intellectual property firm Watermark next year.
Qube has filed a misuse of market power case against the operator of the Port of Newcastle for allegedly forcing the logistics giant to pay for equipment it needs to provide dry bulk unloading services at the port.
The National Australia Bank and insurer MLC have agreed to pay $49.5 million to settle a class action over allegedly worthless credit card insurance.
Google’s promise to shield users’ health data after its planned $3 billion acquisition of fitness tech company Fitbit should be taken with a grain of salt, ACCC chairman Rod Sims said Tuesday.