IMF Bentham and UNSW Law launch the IMF Bentham Class Actions Research Initiative
25 July 2016: IMF Bentham Limited (“IMF”) (www.imfbenthamltd.com), the world’s pioneering and most experienced commercial litigation funder, announced it has agreed to sponsor the IMF Bentham Class Actions Research Initiative (“the Initiative”) at UNSW Australia’s Faculty of Law. IMF will commit $160,000 in funding to the Initiative over an initial 2-year term.
The Initiative seeks to develop a long term relationship between UNSW Law and IMF to explore and resolve key issues in class actions practice in Australia. It will do this through the combination of UNSW Law’s considered academic research and analysis and IMF’s practical knowledge and experience as the funder of many of Australia’s largest class actions.
The Initiative will be led by leading UNSW Law academics, Professor Simone Degeling and Associate Professor Michael Legg. The Director of the Initiative will be Associate Professor Legg and the leader of the Private Law Research Program (a stream of the Initiative) will be Professor Degeling. Professor Degeling is an internationally recognised expert in private law specialising in equity, trusts, remedies and the law of restitution. Associate Professor Legg is one of Australia’s leading academics on class actions, with numerous publications on civil and regulatory litigation, class actions and litigation funding in Australia and elsewhere.
The Initiative will initially examine two key issues relating to class actions practice in Australia today: (1) the operation of class action settlement distribution schemes, and (2) how to achieve finality in class action litigation. Both issues are of significant practical importance to class action litigants, their lawyers, litigation funders, insurers and the Courts. The results of the research will be published, including through a dedicated website, and will be presented at conferences and seminars for interested parties which will form an integral part of the Initiative.
IMF’s Managing Director, Andrew Saker, said: “IMF is delighted to be able to support groundbreaking research into practical issues affecting class action litigation in Australia. Class actions have emerged as an important means to provide access to justice for consumers and investors. The Initiative will identify practical ways to enhance the operation of the class action regime and we are pleased that UNSW Law has chosen to collaborate with IMF as its industry partner on this important project.”
Professor George Williams AO, Dean of UNSW Law, said: “UNSW Law is very pleased to collaborate with IMF Bentham on this important initiative. It matches our aspirations to produce new research on key legal topics and to have an impact on the future of legal practice through partnerships with industry leaders.”
The Initiative commences on 25 July 2016 and will run for 2 years.
About IMF Bentham Limited
IMF Bentham Limited, previously known as IMF (Australia) Ltd, (“IMF”) is Australia’s largest litigation funder and a pioneer of the global litigation funding industry. IMF is a public company that has been listed on the Australian Securities Exchange since 2001 (ASX: IMF). IMF operates through offices in Australia, the United States and Canada and funds litigation in a number of jurisdictions around the world. IMF provides funding for a wide range of litigation, including insolvency, intellectual property, environmental and commercial claims and for class actions, and has a strong track record of backing and resolving successful claims. Information about IMF can be found on the IMF website at www.imfbenthamltd.com.
About UNSW Law
UNSW Law is among the world’s top 15 law schools and is Australia’s leader in progressive and rigorous legal education and research. The Law School’s teaching is student-centred, research-based and outward-looking, so that UNSW Law graduates have flexible skills, critical perspectives and broad horizons. UNSW Law’s research is interdisciplinary, collaborative and leads to real change in public policy and the law. The quality of the Faculty’s research is recognised by a consistently high level of prestigious funding from the Australian Research Council and other bodies. Information about UNSW Law can be found at law.unsw.edu.au
Further comment
Associate Professor Michael Legg and IMF Bentham Investment Manager Wayne Attrill are both overseas but available for comment via email. Please contact Clare Morgan at the UNSW Media Office, 9385 8920, 0416 127 312, [email protected]