Balance Legal Capital has been granted an Australian Financial Services Licence (AFSL) by the Australian Securities & Investments Commission (ASIC) effective from 21 April 2021. They are the first non-Australian litigation funder to be granted an AFSL since new rules introduced by the Australian Government in 2020 required litigation funders to carry an AFSL. Balance is therefore well-positioned to continue to fund new class actions in Australia. Read more.
Robert Rothkopf of Balance Legal Capital shares his recipe for how IPs can successfully claim against a negligent audit firm, including the benefits of taking fees on risk, leading to better alignment between the funder, the liquidators and the legal teams.
Robert Rothkopf of Balance Legal Capital contends that the UK class action regime could be improved by adopting an “opt-out” class action system – the model used in jurisdictions like the US and Australia – expanding access to justice and providing more effective routes to compensation.
Charterer Carnival and shipowner Princess Cruise Lines are facing a class action currently being heard by Australia’s Federal Court over claims they were responsible for the 2020 Covid outbreak on cruise ship the Ruby Princess, which allegedly led to 663 people catching Covid and 28 people dying. The class action is backed by funder Balance Legal Capital, with Shine Lawyers representing the class.
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