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Rest Super Members Prepare for Class Action Over Alleged Breach of Trustee Duties

February 16, 2024

Rest Super Members Prepare for Class Action Over Alleged Breach of Trustee Duties

Shine Lawyers has filed a class action on behalf of members of the Rest Superannuation fund who may have had income protection insurance premiums wrongfully deducted from their superannuation accounts.    “This class action alleges that between December 2008 and June 2019, Rest Superannuation (Rest) signed up new members to income protection insurance by default, without the member actively choosing to sign up to the policy,” said Shine Lawyers’ Practice Leader, Hadi Boustani.    “We also claim that when members did not make any contribution to their Rest account for 13 continuous months or more, the default income protection insurance policy did not provide the member with any coverage and when members held multiple income protection insurance policies at the same time, the Rest income protection policy provided little to no coverage.”    “This was money down the drain for fund members who paid a premium for no benefit. As a result, we’re seeking compensation for insurance premiums which we allege were unfairly deducted, as well as investment returns and administration costs,”    “Up to 500,000 Rest members may be affected,” said Boustani.   Shine Lawyers client, Jarrod Lane, has registered for the class action to demand accountability from his super fund.   He was not earning an income for over 3 years between 2018-2021 and believes he was charged for income protection insurance that he could never claim on.    “I felt it was important to join this class action because what Rest has done is wrong and they should compensate those who were affected.”  The action is being funded by Woodsford, a leading global ESG, access to justice and litigation finance business.   Clare Owen, Director and Head of Origination, Woodsford Australia, commented: “Everyday Australians trust their superannuation funds to look after their hard-earned dollars which they have invested for their retirement. Having sufficient superannuation to fund retirement is so important. Woodsford is pleased to be supporting this action to assist those everyday Australians in recouping losses to their superannuation which has been unfairly eroded.”    To be a part of this class action, you must have:   
  • Been a Rest Super fund member for any time between 5 December 2008 and 30 June 2019; and   
  • By default, signed up to a Rest Superannuation account which included an income protection insurance policy; and   
  • Had income protection insurance premiums deducted from your Rest Super account; and  
  • Either:  
    • Made no contribution to your Rest Superannuation account for 13 continuous months or more but continued to receive deductions from your account to cover income protection insurance premiums to Rest during that period; and/or  
    • Paid for multiple default income protection policies alongside your Rest income protection insurance policy.   
Anyone who meets the above criteria and was a Rest super fund member between 5 December 2008 and 30 June 2019 may be entitled to compensation.      To find out more, register here.    The class action was listed for a case management hearing on Friday 16 February, 2024 in the Federal Court. Justice Button made orders including for Rest to file its defence by the 28 March 2024. 
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Announcements Commercial

Burford’s Q2 Profits Surge on New Capital

By John Freund |

Burford Capital has delivered its strongest quarterly performance in two years, buoyed by a swelling pipeline of high-value disputes and a fresh infusion of investor cash.

A press release in PR Newswire reveals that the New York- and London-listed funder more than doubled revenue and profitability in the three months to 30 June 2025. CEO Christopher Bogart credited “very substantial levels of new business” for the uptick, noting that demand for non-recourse financing remains “as strong as we’ve ever seen.”

The stellar quarter follows a lightning-quick, two-day debt offering in July that raised $500 million—capital Burford says will be deployed across a growing roster of commercial litigations, international arbitrations, and asset-recovery campaigns. Management also highlighted significant progress in portfolio rotations, underscoring the firm’s ability to monetise older positions while writing new ones at scale. Investors will get a deeper dive when Burford hosts its earnings call today at 9 a.m. EDT.

Burford’s results arrive amid heightened regulatory chatter in Washington and Westminster, yet the numbers suggest the industry’s largest player is unfazed—for now—by talk of disclosure mandates and tax levies. The firm emphasised that its legal-finance, risk-management and asset-recovery businesses remain uncorrelated to broader markets, a pitch that continues to resonate with pension funds and endowments hunting for alternative yield.

For litigation-finance insiders, Burford’s capital-raising prowess and improving margins could have ripple effects: rival funders may face stiffer competition for marquee cases, while law-firm partners might leverage the firm’s deeper pockets to negotiate richer portfolio deals.

Announcements Commercial

International Legal Finance Association (ILFA) Announces End of Year Gala and Inaugural Legal Finance Awards

By John Freund |

 The International Legal Finance Association is pleased to announce its annual End-of-Year Gala Dinner on November 13, 2025.  The event will take place at The Law Society in London, bringing together leading figures from across the legal finance industry for an evening of celebration and reflection on the year’s achievements.  

The dinner will be accompanied by the inaugural Legal Finance Awards.  The awards are designed to recognize and honor excellence across the legal finance ecosystem. They will spotlight the achievements of funders, law firms, brokers, advisors, and other key contributors to the continued growth and innovation of the industry. Nominations for the awards are now open, with the nomination form available here. 

“The Gala Dinner is a chance for our members and guests to gather in person and celebrate the progress we've made over the year,” said Rupert Cunningham, Global Director of Growth and Membership Engagement at ILFA. “We are especially excited to launch the Legal Finance Awards, which will shine a light on the outstanding work and impact of professionals across our field.”

Tickets for the Gala are on sale now, with discounted pricing available for ILFA members.  More information can be found here.

Announcements Commercial Legal Innovation

Sentry Expands Free Funding Market Search for Litigators

By John Freund |

Sentry Funding’s free tool enabling litigators to instantly search the funding market on behalf of clients has been expanded.

Sentry’s free ‘decision in principle’ feature enables lawyers to evidence to clients that they have conducted a broad market search, even if funding is not ultimately taken out.

Having deployed £125m in funding across a range of case types, Sentry now has access to an even broader funding marketplace, covering 34 global jurisdictions. Finance is provided by 13 funders, five of which are members of the Association of Litigation Funders.

With the recent addition of Sentry’s first US-based funder, the US offering will now be expanding over the next few months. 

A faster process

Sentry has deployed the latest technology to make the search for funding even easier. 

  • The intuitive application process now only asks questions relevant to previous answers, saving lawyers time.
  • The commercial marketplace has been redeveloped with 63 new data points added to the funder criteria matrix - improving the accuracy of case / funder matching
  • Sentry has also begun building out its AI capabilities, starting with an automated auditing tool for live case progression audits. 

Tom Webster, chief executive officer at Sentry Funding, said:

‘By broadening our reach and speeding up the process, we’re making it even easier for lawyers to raise funding. We’re also giving litigators an easy way to show clients they have fully researched the market, rather than just approaching one or two funders. 

‘The service is free to use, so even if clients decide they do not ultimately want funding or if none is available for that case, for the lawyer, it makes sense to use our “decision in principle” feature, so they can put evidence on file that they did check the market.’

Sentry Funding is an SaaS (software as a service) technology provider that gives solicitors access to a diverse marketplace of litigation funders. It works with solicitors, funders and third-party providers to ensure claimants are getting the most efficient service for their funding needs. 

The Sentry Portal also acts as a case management system that runs a transparent digital case file for solicitors, funders, after-the-event insurance providers, barristers, cost lawyers and other relevant third parties.