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Australian businesses on notice as court loosens rules on class-action funding

By Ryan Cropp ( July 8, 2024, 06:30 GMT | Insight) -- Australian businesses may soon face an increased risk of class-action litigation, after a court overturned restrictions on how such cases are funded. In a judgment delivered in the Federal Court of Australia on Friday, a three-judge appeals panel ruled that law firms could fund litigation on behalf of their clients, instead of having to rely on third-party litigation funders. In effect, this means that Australian law firms can essentially lend money to plaintiffs to fund class-action suits, in exchange for a share of any damages won.Australian businesses may soon face an increased risk of class-action litigation, after a court this week overturned restrictions on how such cases are funded....

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