Lexology Getting the Deal Through – Litigation Funding: Australia, 2021 Edition
2020 has been an eventful year in the litigation funding industry in Australia. New regulations have come into effect (and survived an attempted disallowance motion!), requiring litigation funders to hold an Australian Financial Services Licence (AFSL) and funded class actions to comply with Australian managed investment scheme regulations. In addition, the Queensland Court of Appeal accepted a Piper Alderman led argument unanimously confirming the validity of class action funding in QLD despite the tort of maintenance and champerty not having been abolished by legislation.
These issues and many more are covered off in the Australian chapter of Getting the Deal Through – Litigation Funding. The full publication compares the legal and practical issues relating to third-party litigation in 18 key jurisdictions around the world.
Australia continues to be a leading jurisdiction for commercial third party litigation funding and Piper Alderman has been at the forefront of the litigation funding industry since its inception. We ran some of the original cases that opened up third party funding in Australia, leading the world in third party funding.
Download the Australian chapter here.
Reproduced with permission from Law Business Research Ltd. Lexology Getting the Deal Through: Litigation Funding 2021, (published in December 2020; contributing editors: Steven Friel and Jonathan Barnes, Woodsford Litigation Funding Ltd).
For further information please click here.