Australian government postpones class action reforms

The controversial class action reforms that have been proposed in Australia have been postponed, with Attorney-General Michaelia Cash stating that the reforms do not currently take priority and will have to wait until after the May 2022 election. The class action bill was first published in October 2021 and if enacted, would cap returns to litigation funders to 30 per cent. Senator Cash also said she was “still very pleased the committee supported the [litigation funding] bill – with some amendments”.

Funders Omni Bridgeway, Litigation Lending, ICP, CASL, Balance Legal Capital and Vannin Capital recently came together to launch Save Class Actions, a new campaign working against the proposed bill.

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