Category Archive: Class actions

The world catches up to securities class actions

Many (especially European) jurisdictions eschew the term ‘class actions’, preferring the more genteel descriptors ‘collective investor action’ or ‘collective redress’. Despite the different terminology, the statistics show that the globalisation of securities class actions is taking hold and the trend is set to increase. This trend will have wide ranging implications on the future of …

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Litigation funders and contingency fees under the spotlight in Victoria

On Monday, it was announced that the Victorian Attorney-General, the Hon Martin Pakula MP, has asked the Victorian Law Reform Commission (VLRC) to review the rules covering litigation funders to prevent unfair conduct in civil proceedings, such as class actions. The review by the VLRC will consider issues such as: circumstances where a successful outcome …

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Climate change risk heats up for directors

Today marks the formal adoption of the Paris Agreement on climate change in many countries across the globe. When ratified in Australia, the Agreement will give legal effect to the development of an economy dedicated to low carbon emissions. The Agreement ushers in a new age for corporate Australia, in which company directors will be …

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Ground breaking ruling set to make commencing class actions easier

The Full Court of the Federal Court of Australia has made a ground-breaking order in a proceeding that all class members pay for litigation funding costs, not just funded class members (full decision available here). This decision is significant because it is the first time that a Court has made a ‘common fund order’ in …

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Spring brings Federal and Queensland class actions developments

The sun shines on class actions in Queensland On 5 August 2016, the Queensland government announced its intention to introduce a class action regime. This is the first time class actions will be heard in Queensland courts. Previously, Queensland plaintiffs wanting to commence group proceedings have been required to pursue their claims in other jurisdictions. …

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US consumer protection body proposes abolition of mandatory arbitration clauses in consumer contracts

On 5 May, the US Consumer Financial Protection Bureau released a report proposing the prohibition of mandatory arbitration clauses in consumer contracts. Click here to read the full report. In the US, many standard consumer contracts, for instance for credit cards and bank accounts contain arbitration clauses, which may prevent consumers from bringing class actions …

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Insurance Review May 2016

Welcome to Insurance Review May 2016, DLA Piper’s publication dedicated to the insurance industry. In this edition we report on developments across the insurance industry, including the impact of the AEC and other regulatory developments. We also report on the latest cases in many classes of business, including D&O, cyber, privacy, fintech, construction, medical indemnity, …

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Court gives go ahead to prove loss via indirect causation following a decade of doubt

On Wednesday, the NSW Supreme Court (In the matter of HIH Insurance Limited (In Liq)) confirmed that Australian courts will accept ‘indirect’ or ‘market-based’ causation to prove claims relating to misleading and deceptive conduct. The decision is the last case to be decided in the long running litigation that followed the HIH collapse in 2001, resulting …

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After the event insurance – Security for costs form clarified

A couple of months ago we reported on applications pending in the Supreme Court of Victoria about After The Event (ATE) insurance. That update, available here, noted that the procedural operation regarding security for costs to be provided by an overseas ATE insurer were being ventilated in the Supreme Court of Victoria. We noted that …

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After the event insurance surfacing in Australian Courts

After The Event (ATE) insurance, a product that has been offered overseas for some time, is now becoming available in Australia. ATE insurance is defined by Universal Legal Protection Limited, a U.K. ATE insurance broker, as follows: ‘After the Event Litigation Insurance is a relatively new type of insurance that protects a Solicitor’s client (usually …

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