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Australia: Alleged Failure of Foreign Litigation Funders to Register in Australia May Undermine Huge Class Action
Live by the litigation funder, die by the litigation funder? Lawyers for Brookfield Multiplex have reportedly revealed that overseas litigation funders who are bankrolling the securities class action against their client may have operated an unregistered management investment scheme. The failure of the Singaporean and Canadian funders to register as Australian businesses “has cast doubts [...]
Australia: Litigation Funder IMF (Australia) Ltd. Sees Earnings Surge
As most public companies continue to get hammered, one company in Australia reports that earnings are surging. IMF (Australia) Ltd., the dominant class action litigation funder in Australia, told shareholders at its annual general meeting that net profit in fiscal 2009 was expected to come in at $20 million, following $17.16 million the prior year, [...]