In his most recent blog post, ILR President Harold Kim highlights some major international developments that could have an impact on the business community, notably in the United Kingdom and Australia.
Harold’s blog looks at the start of oral arguments before the UK Supreme Court in the massive £14 billion collective action over Mastercard’s interchange fees. Which is a long-running, controversial case backed by third party litigation funders. The Court’s ruling will have an impact on whether the UK turns into a new venue for U.S.-style class actions.
Harold’s blog also looks at Australia Attorney General Christian Porter's recent discussion with their House of Representatives on third party litigation funding and the growth of class action litigation after launching a formal inquiry into the issue. Porter said class action filings have increased 325 percent in Australia over the last decade, and that 77 percent of lawsuits in 2017 and 2018 received backing from third party litigation funders.