Class Actions Australia

Omni Bridgeway encourages regulation of the dispute finance industry in Australia

In 2020 the Australian Government is conducting a Parliamentary Inquiry into the Class Actions regime and the role of dispute financiers in the Australian landscape. Omni Bridgeway welcomes the opportunity to make submissions to the Parliamentary Joint Committee which has been established to consider regulatory reform.  We support reform of the Australian class action regime and regulation of dispute financiers operating in this country. 

Omni Bridgeway’s submission to the Parliamentary Joint Committee can be found here

Our feedback on the Regulatory Impact Statement– regulation of litigation funders under the Corporations Act of 15 June 2020 prepared by Treasury can be found here.

Other Class Action Resources

Omni Bridgeway has extensive relationships across the finance, legal and adjacent industries. We work with leading law firms, academics, arbitrators, mediators, market analysts, economists and other experts throughout the world. Here we share links to Australian class actions commentary from a selection of leading organisations and individuals, in addition to Court decisions and our own materials.

Omni Bridgeway Commentary

As Australia’s leading dispute financier, we have advocated for appropriate industry regulation and governance in Australia. Our submissions to previous industry reviews and Inquiries in Australia, along with a selection of publications and podcasts on class actions, are available here.

Academia Commentary

Professor Vince Morabito, Department of Business Law and Taxation, Monash University

Blog

Disclaimer: The information contained in this blog is general in nature and does not constitute legal advice. We recommend that claim holders obtain advice from their lawyers on litigation funding.

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25-May-2020

Conditional settlement of PFAS contamination class actions

Dispute finance plays a valuable role in the community providing access to justice for those without the means to pursue complex and costly disputes. Omni Bridgeway Limited provides non-recourse finance and strategic know-how to claimants and group members in class actions, that enables them to seek redress without risk in the event of an unsuccessful outcome.
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25-May-2020

Thousands of Queensland flood victims expected to be compensated after Omni Bridgeway-funded court action

Global disputes funder Omni Bridgeway Limited welcomed the Supreme Court of New South Wales judgment in November 2019 in the Brisbane floods class action. The court found that the claim for negligence, brought by the class representative, against each of the State of Queensland, Queensland Bulk Water Supply Authority trading as Seqwater and Sunwater Limited, was proven.
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05-Dec-2019

IMF Bentham welcomes High Court ruling against common fund orders in funded class actions

The High Court of Australia has handed down its judgment(1) on common fund orders in the most significant ruling relating to litigation funding since the Fostif case(2). A majority of the High Court held that neither the Federal Court of Australia nor the Supreme Court of New South Wales have the power to make a ‘common fund order’ (CFO), at least not in the early stages of litigation.
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31-Oct-2018

IMF Bentham / UNSW Class Actions Conference 2018

Key issues in class action litigation were debated at an important conference presented under the auspices of the IMF Bentham Class Actions Research Initiative with UNSW Law. Watch the videos from the event.
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28-Jun-2017

IMF Class Action Conference Overview

Listing of all IMF Class Action Conference Videos
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27-Jun-2017

Conference Keynote Address by The Hon Justice Lee

The Hon Justice Michael Lee (Federal Court of Australia) explores the issue of whether the courts have the power to adjust litigation funders’ contractual commission rates.
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26-Jun-2017

CARI research “Settlement Distribution Schemes”

Cutting edge research on Settlement Distribution Schemes was presented by Associate Professor Michael Legg (UNSW Law) and Rebecca Gilsenan (Principal, Maurice Blackburn Lawyers), at the IMF Bentham Class Action Conference.
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24-Jun-2017

Panel discussion “Achieving Finality to Class Action Litigation”

Class action experts came together to explore issues in finalising class actions. Panel experts included: Hon Justice Jack Forrest (Supreme Court of Victoria); Professor Simone Degeling (UNSW Law); Bill Petrovski (William Roberts Lawyers); Jason Betts (Herbert Smith Freehills); Brett Jordan (Senior Technical Claims Advisor, Major Loss Financial Lines Claims, AIG Australia Limited), and was moderated by Wayne Attrill (IMF Bentham).
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27-Mar-2017

25 Years of Class Actions in Australia

IMF Bentham Senior Investment Manager, Wayne Attrill, discusses the development of class actions over the past 25 years, and whether we have reached another turning point in the courts’ acceptance of litigation funding of class actions.
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01-Dec-2016

"Litigation Funding" in Legg (ed), Resolving Civil Disputes (LexisNexis Butterworths, 2016)

In 2006 the High Court of Australia, by a majority in the renowned Fostif decision, approved of a litigation funder agreeing by contract to meet the costs of a legal proceeding in return for a share of any sums recovered. This chapter examines the growth, developments and regulation of the litigation funding industry.
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10-Mar-2016

Presentation "Advanced Issues in Class Actions" - The College of Law (2016) - by W Attrill

In the presentation to the College of Law, IMF Senior Investment Manager, Wayne Attrill, discusses some of the advanced issues in class actions including the role of a funder in facilitating class actions, "competing" class actions, common fund orders and the regulation and future of litigation funding in class actions.
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01-Jul-2015

Funding Justice - The Role of Litigation Funders in Class Action Proceedings (2015) - by W Attrill

The importance of litigation funding to facilitate access to the civil justice system in Australia is now widely accepted. The article explains the funding process and the assistance that a funder can bring to funded proceedings, to the benefit of clients and lawyers alike.
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02-Dec-2013

“The Regulation of Conflicts of Interest in Australian Litigation Funding” (2013) Journal of Civil Litigation and Practice - by W Attrill

In July 2013, Regulations were introduced to require funders to have "adequate practices" for managing any conflicts of interest that might arise in litigation they fund. The article gives an overview of the conflicts management regime, how it is managed and the impacts it will have for litigation funders.
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29-Aug-2013

Presentation "Management of Conflicts of Interest in Australian Litigation Funding" (2013) to UNSW Class Actions: Securities and Investor cases

Regulations introduced in 2013 requires litigation funders to have adequate, documented practices for managing any conflict of interest that might arise in funded litigation. The presentation provides an overview of the conflicts management regime, how it is managed and the impacts it will have for litigation funders.
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26-Oct-2012

Presentation "The role of Institutional Investors in Australian shareholder class actions" (2012) by W Attrill

The benefits to institutional investors and their clients of adopting a policy of active participation in relevant shareholder class actions.
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01-Nov-2011

Presentation "Dispute Resolution in the next 40 years - Access to justice and continuing limitations on the use of Class Actions" UNSW Law Conference (2011)

The UNSW Law Conference presentation explores the issues around the conduct and resolution of Class Actions in Australia.
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01-Jun-2009

“Funding Criteria for Class Actions” (2009) - The University of New South Wales Law Journal - by W Attrill, J Walker and S Khouri

IMF Bentham has financed many significant Australian representative proceedings and class actions, particularly those brought on behalf of aggrieved shareholders and investors. IMF chooses its cases with care and in this paper for the UNSW Law Journal, the funding criteria for multi-party actions are examined and discussed, including IMF's assessment of liability risks, quantum risks and enforcement risks.
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