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Regulatory Issues

Stay on top of regulatory updates taking place throughout various jurisdictions across the globe.

Regulatory Issues

366 Articles

The Role of Superannuation Funds in Litigation Finance

By John Freund |

The role of superannuation funds in litigation finance (specifically in funding class action claims) has been highlighted by industry insiders in Australia, who point to it as a benefit to the funds themselves and also an encouragement of good corporate governance. The recent example of HESTA, a super fund based in Sydney, taking part in a class action lawsuit against multiple financial service companies, has demonstrated both the appetite and the potential benefits of such engagements.

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Federal Court of Australia approves its power to make future orders for class closure

By John Freund |

The following piece was contributed by Lillian Rizio and Max Hensen of Australian law firm, Piper Alderman

The Full Federal Courts’ decision in Parkin v Boral Limited (Class Closure) [2022] FCAFC 47 (Parkin) confirms the courts’ power to issue pre-mediation (and settlement) soft class closure notices to group members. The decision hints at the (positive) appetite of the Federal Court in making future orders for class closure that facilitate a just outcome,[1] simplifies the assessment of quantum prior to settlement, and reduces an element of risk in funded litigation.

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