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Litigation Funders Expect More Class Actions as Australia’s Government Relaxes Rules

Plans by Australia’s recently elected Labor government to reinstate a financial services licensing exemption for litigation funders could lead to an upswing in class action funding. Andrew Saker, chief executive of litigation funder Omni Bridgeway, one of the few funders to have an Australian Financial Services Licence, said the government’s proposed changes will create a more conducive environment for litigation funders to work in the class action environment.

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Government hunkers down in standoff with Sulu Sultan’s heirs

The standoff between the heirs of the late Sultan of Sulu and the Malaysian government over the US$14.92 billion Therium-backed claim over unpaid yearly leases continues to make the headlines, with former attorney general Tan Sri Tommy Thomas saying last week that the award is “completely illegitimate”.

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