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 is eroded by fees, leaving plaintiffs with nothing (or next to nothing), despite winning; whether some third parties are unfairly profiting from successful actions; the existing prohibition on law firms charging contingency fees and whether that prohibition should be retained. In announcing the review, the …

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