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Green light for contingency fees

Green light for contingency fees

By Victorian Law Reform Commission

Litigation 


The Victorian Law Reform Commission (VLRC) report Acess to Justice – Litigation Funding and Group Proceedings tabled in parliament on 19 June 2018, makes 31 recommendations which aim to increase transparency in cases financed by litigation funders, reinforce the court’s power to ensure that the amounts charged in class actions are fair, and increase accountability and efficiency in class actions. Although actively involved in class actions filed in the Federal Court, litigation funders have invested in only 10 of the 85 class actions filed in Victoria.1 Their involvement in other civil proceedings in Victoria is unknown, as routine disclosure of sources of financial assistance in those proceedings is not required.The VLRC does not support the introduction of Victorian legislation to regulate litigation funders, or the placing of a statutory cap on litigation funders’ fees, which would lead to national inconsistency and possible forum shopping. Instead, the VLRC has recommended:

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