In recent years, the use of third party litigation financing (“TPLF”) in Australia has resulted in a notable proliferation of class actions and other funded lawsuits.
As such, ILR has a released a new paper, "Improving the Environment for Business in Australia," which proposes a combination of three policy actions to mitigate the risks posed and harms caused by TPLF.
The Australian this week reported on ILR's proposals in this story (subscription required) that appeared on the front page of the newspaper's Legal Affairs section.
The article reports that ILR has:
"Grave concerns about this development, which has implications not only for the Australian civil justice system and economy but globally as well.''
Journalist Chris Merritt also writes that ILR's "proposals had been drawn up to protect its constituents as well as all stakeholders in the civil justice system."
Click here to read ILR's full report.