ICP backs class action against insurer

ICP Funding Pty Ltd, an authorised representative of CASL, is supporting a class action against Insurance Australia Limited, trading as ‘CGU Insurance’ (CGU), on behalf of business owners with CGU business interruption insurance who have suffered losses to their business losses arising from the the COVID-19 pandemic. The class action will be run by Slater & Gordon Lawyers. Read more.

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Funder News

Australian funder CASL raises $155m

Australian litigation funder CASL has secured $155m in investment capital in its inaugural capital raising, with significant global institutional support.

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Quartet advise as Volkswagen Group agrees £193 Dieselgate UK Settlement

A £193M settlement has been reached between Volkswagen and around 91,000 claimants in a U.K. group action over the carmaker’s emissions scandal. The claim, which should now result in each car owner receiving around £2,100, was backed by litigation funders Therium and North Wall Capital. Therium, the largest backers, funded claimants represented by Slater & Gordon, whilst North Wall financed PGMBM claimants. Leigh Day did not have any litigation funding, instead working on a conditional fee agreement.

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