Litigation Lending Services Limited is backing a class action against the Australian Commonwealth on behalf of thousands of Indigenous Australians in the Northern Territory whose wages were unjustly withheld or not paid as a result of wage control legislation in effect until 1972. The legal challenge is being run by Shine Lawyers. Read more.
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.
More than 1,700 family members and deceased estates of the Northern Territory Stolen Generations have reached an historic $50.45 million settlement with the Australian Government, subject to the approval of the Supreme Court. Litigation Lending Services provided financing for the case.
Sydney’s Litigation Lending Services says it makes a 62 per cent return on an IRR basis and has a 93 per cent success rate for completed cases. The company has hired Credit Suisse for a new $35 million fundraising, according to AFR.
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