ILR president Lisa Rickard cautions the Australian government to take note of the growing influence of litigation funders in class action litigation.
“It became very clear to us that what is happening with regard to class action litigation here in Australia was very much interwoven with funding of litigation,” she told The Australian. “The two go hand in hand and are feeding off one another.”
The Attorney-General of Australia is proposing new rules on funders that would prevent law firm principals from owning such companies. ILR has previously warned that those arrangements can lead to conflicts of interests and raise other ethical problems