Balance Legal Capital

All articles about Balance Legal Capital.

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.
Car giant Toyota is appealing an Australian class action ruling that could see more than 260,000 consumers receive damages totalling an eye-watering $2 billion. The Federal Court ruled against Toyota in a landmark judgment in April. Toyota will be challenging the "factual and legal basis for the award of damages. Commenced in 2019 with the backing of Balance Legal Capital, the class action centres on faulty diesel particulate filters used in the affected vehicles.
Balance Legal Capital is backing a proposed £768 million collective claim in the UK against Apple Inc. and its subsidiaries in relation to automatic iOS updates which included a throttling feature that led to unexpected shutdowns or poor device performance. The claim is being filed with the Competition Appeal Tribunal on an opt-out basis. Law firm Charles Lyndon is representing the proposed class representative. 
Toyota could end up paying more than $2 billion to customers as part of an Australian class action that challenged the auto giant over faulty diesel particulate filters in some of its top-selling cars. In a Federal Court judgement handed down last week, Justice Michael Lee found Toyota customers purchased vehicles with defects and as a result, the value of their cars was reduced by 17.5 per cent on the average retail price, or more than $7,000 per car. Balance Legal Capital is funding the claim.
Omni Bridgeway, Litigation Lending, ICP, CASL, Balance Legal Capital and Vannin Capital are all funders who have come together to launch Save Class Actions, a new campaign in Australia working against government intervention into people's right to fund a class action. New laws proposed by the Morrison Government would have people's legal funding in a class action capped at 30% of their final compensation.
Balance Legal Capital has been granted an Australian Financial Services Licence (AFSL) by the Australian Securities & Investments Commission (ASIC) effective from 21 April 2021. They are the first non-Australian litigation funder to be granted an AFSL since new rules introduced by the Australian Government in 2020 required litigation funders to carry an AFSL. Balance is therefore well-positioned to continue to fund new class actions in Australia.

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