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First successful application for contingency fees made in Australian shareholder class action

Australia - February 17 2022 On 1 December 2021, the Supreme Court of Victoria approved an application for a group costs order (GCO) in a class action for the first time. Reasons…

Ronan Guyomarc’h, Christopher Smith

Australian Securities and Investments Commission v Forex Capital Trading Pty Limited, in the matter of Forex Capital Trading Pty Limited [2021] FCA 570

Australia - December 21 2021 The retail sector clean-up targeting over-the-counter (OTC) derivative products remains a priority for ASIC in pursuing consumer protection. These…

Supreme Court Denies First Applications for Contingency Fees

Australia - September 17 2021 On 1 July 2020, the Supreme Court Act (Vic) was amended to allow for a group costs order (GCO) in class action proceedings. A group costs order…

Patrick Boardman, Jacques Jacobs, John Moran, Christopher Smith, Nicole Wearne

Going once… High Court Sold on Competing Class Action Stay Procedures

Australia - March 11 2021 In a narrow 3:2 decision, the High Court of Australia dismissed an appeal by one of the unsuccessful law firms and funders against the stay of their…

Patrick Boardman, Christopher Smith, Nicole Wearne

Australian Inquiry into Litigation Funding and the Regulation of the Class Action Industry: final report released - time for meaningful and measurable change?

Australia - December 23 2020 The Australian Parliamentary Joint Committee on Corporations and Financial Services (Committee) has completed its inquiry into Litigation Funding and…