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.