Abstract

http://ssrn.com/abstract=1579487
 


 



Litigation Funding in Australia


Michael Legg


University of New South Wales (UNSW) - Faculty of Law

Louisa Travers


Clayton Utz

Edmond Park


Clayton Utz

Nicholas Turner


Clayton Utz

March 27, 2010

UNSW Law Research Paper No. 2010-12

Abstract:     
Litigation funding has been argued to be an important development in Australian civil litigation that provides access to justice, allows for the spreading of the risk of complex litigation and can improve the efficiency of litigation by bringing commercial considerations to bear. Since the High Court decision in Campbells Cash and Carry Pty Limited v Fostif Pty Ltd (2006) 229 CLR 386, the Australian litigation funding industry has enjoyed significant growth. However, the operation and proper constraints on litigation funding remains a live issue with concerns that the relatively unregulated nature of the litigation funding market creates the possibility for harm to consumers and the abuse of court processes. This paper reviews the development of litigation funding in Australia and the proposals for its regulation, including the decision in Brookfield Multiplex Limited v International Litigation Funding Partners Pte Ltd (2009) 180 FCR 11 where the Full Federal Court found that the litigation funding arrangements under consideration constituted a 'managed investment scheme' that was subject to the requirements of the Corporations Act 2001 (Cth).

Number of Pages in PDF File: 43

Keywords: General Law, Litigation Funding

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Date posted: March 28, 2010  

Suggested Citation

Legg, Michael and Travers, Louisa and Park, Edmond and Turner, Nicholas, Litigation Funding in Australia (March 27, 2010). UNSW Law Research Paper No. 2010-12. Available at SSRN: http://ssrn.com/abstract=1579487

Contact Information

Michael Legg
University of New South Wales (UNSW) - Faculty of Law ( email )
Kensington, New South Wales 2052
Australia
Louisa Travers
Clayton Utz ( email )
Sydney NSW 1215
Australia
Edmond Park
Clayton Utz ( email )
Sydney NSW 1215
Australia
Nicholas Turner (Contact Author)
Clayton Utz ( email )
Sydney NSW 1215
Australia
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