In an interview with The Australian, U.S. Chamber Institute for Legal Reform President Lisa A. Rickard said American businesses have “grave concerns” over recent litigation developments around the world, particularly in Australia.
She pointed specifically to third party litigation funding, class action litigation, and the use of contingency fees as three key litigation developments on the global stage. In Australia, she said, class action certification procedure is “pretty non-existent.” Similarly, she said “as Australia goes, so will go the rest of the world” on third party litigation funding regulation, since the practice started there.
On the use of contingency fees, Rickard said the “lawyer’s interest is in getting that fee jacked up,” rather than acting in the best interest of the client. This can lead to “a lot of conflict and tension.”