A judge has found that a litigation funder’s involvement in settlement negotiations without the presence of the applicant’s lawyers in a shareholder class action against Spotless Group, which recently settled for $95 million, was “inappropriate”.
Two leading figures in the litigation funding industry come together amid an anticipated bump in the demand for litigation finance in the next decade, creating a new funder expected to be a “formidable force” in an increasingly competitive market.
New laws aimed at regulating litigation funders are due to commence on Saturday, but Treasurer Josh Frydenberg is keeping a lid on four emails exchanged with the watchdog in the days leading up to the decision to bring in the sweeping changes.
There is a “reasonable chance” that two shareholder class actions against failed electronics retailer Dick Smith will settle by February of next year, group members have learned.