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Ann: Mesh Class Action Costs Order, page-29

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tim8wilson

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02/12/20

16:33

Post #: 49301897
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Originally posted by tim8wilson: ↑

Some more good news. The proposed tightening of litigation funding regulations are at risk of falling through.

"Controversial rules imposed on class action litigation funders are at risk of falling apart, with One Nation threatening to vote in favour of scrapping the scheme unless changes are made. The Morrison government needs support from two of the five crossbench senators to save the regulations after Labor moved a motion in the Senate, supported by the Greens, to strike them down. A vote on Labor's motion must occur on Wednesday otherwise it is automatically deemed to be successful. But even if Labor does notch up a win, Treasurer Josh Frydenberg remains steadfast in his position."

[ ... ]

"Plaintiff law firms and litigation funders argued the MIS requirement was akin to trying to "fit a square peg into a round hole" and would drive up the cost of litigation, which would ultimately increase costs for class members."
[ ... ]

"One Nation leader Senator Pauline Hanson has given the government an ultimatum that her support is contingent on some changes to the rules. Senator Hanson has proposed a compromise position that would see class actions exempted from the MIS regime if the funder committed to give at least 70 per cent of any damages awarded to class members."
You can read the rest here:
https://www.copyright link/politics/federal/class-action-litigation-funding-rules-at-risk-of-defeat-20201130-p56j9s

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Hmm link is blocked.... you can find it on the Australian Financial Review website at....
/politics/federal/class-action-litigation-funding-rules-at-risk-of-defeat-20201130-p56j9s

Last edited by tim8wilson: 02/12/20

SHJ Price at posting: 89.0¢ Sentiment: Buy Disclosure: Held
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