First successful application for contingency fees made in Australian shareholder class action

Ronan Guyomarc’h, Janette McLennan and Christopher Smith of Clyde & Co analyse the first successful application for contingency fees made in an Australian shareholder class action after the Supreme Court of Victoria approved an application for a group costs order (GCO). The team predicts that there will be a rise of greater competition between law firms prepared to act on a contingency fee basis on the one hand and litigation funders on the other. They expect the decision to add to the popularity of the Supreme Court of Victoria as a venue for class actions and give rise to ‘forum shopping’ between that Court and the Federal Court. Read more.

Keep Reading

Insights

GDPR damage claims – a potential for mass litigation in Germany?

Jan Spittka of Clyde & Co predicts that General Data Protection Regulation (‘GDPR‘) could lead to a potential for mass litigation in Germany. GDPR, which provides for material and non-material damage claims in case of an infringement of said Regulation, has seen these damage claims to be quite dormant for a while. When affected individuals go to court it is mainly to enforce data subject rights such as access to or erasure of personal data. Jan writes that in Germany it seems that this is about to change, with courts becoming more and more generous when awarding damages. This has triggered the interest of a ‘claimant industry’ consisting of specialised claimant-side law firms, litigation funders and legal tech companies.

Insights

The hunt for redress: mortgage prisoners and potential implications for financial institutions and their insurers

Stuart Maleno and Dakota Glasgow-Simmonds of Clyde & Co comment on a group action currently being spearheaded in the UK by law firm Harcus Parker on behalf of over 200,000 borrowers who allege that the defendant lenders failed to treat them fairly, and anticipate further similar claims to be brought in the near future given the quantum of potential damages and the fact that some litigation funders are reportedly already alert to this “mortgage prisoner” issue.

Before You Go

Never miss a thing in the litigation finance market.