News

Lawyers Weekly Reports on the Sydney ALFA & Shine Conference

On 17 February 2020, Lawyers Weekly published a detailed summary of the insights and comments of Federal Court Justice Michael Lee at the recent ALFA conference in Sydney.  We agree with the author when he says "...from Justice Lee's speech to the ALFA conference, much discussion will continually be raised ahead into the future of class actions, the questions regarding the Victorian contingency fee model, competition and the future of the common fund order"  ​
https://www.lawyersweekly.com.au/biglaw/27487-more-questions-raised-for-the-future-of-class-actions?utm_source=LawyersWeekly&utm_campaign=17_02_20&utm_medium=email&utm_content=1&utm_emailID=
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ALFA Conference - Save the Date - February 2020

Common Fund Orders: CEO Comment in Insurance News

Following the decision of the High Court regarding the power of the Court to make Common Fund Orders, Chief Executive Officer of The Association of Litigation Funders of Australia, Pip Murphy provided comments on behalf of ALFA in the article below:
https://www.insurancenews.com.au/local/high-court-decision-disappointing-class-action-funders-say

ALFA New Chief Executive Officer

The Association of Litigation Funders of Australia is delighted to announce that Pip Murphy has accepted the role of Chief Executive Officer. 

Pip has gained extensive commercial and executive experience through her roles a partner of Baker McKenzie, Regional Managing Director, Australasia of Vannin Capital and Founder, and Legal Director, of TSM Advisory Pty Ltd. As a result of these roles, and as a graduate of the Australian Institute of Company Directors Course, Pip demonstrates great skill in understanding and influencing legal, business and financial risk. 

​As Pip transitions from Director of ALFA to CEO, Pip intends to engage with government, legislators, regulators and other policy makers to ensure that legal finance firms are contributing in a meaningful and responsible way to dispute resolution in Australia.

ALFA New Director

The Association of Litigation Funders of Australia is delighted to announce that Tom McDonald has joined the Board as a Director.

Tom is the Regional Managing Director, Australasia, of Vannin Capital, a leading global dispute resolution funding firm.  Vannin is wholly owned by Fortress Investment Group and has offices in Australia, Europe and the Americas.  Tom has overall responsibility for the Vannin’s investing activities in Australasia. 
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Prior to joining Vannin, Tom was a restructuring lawyer at Ashurst.  Tom is a professional member of ARITA and holds a BA/LLB (hons) from the University of Queensland.

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ALFA Inaugural Annual Drinks Event

The Association of Litigation Funders of Australia hosted approximately 170 guests at The Ivy in Sydney on 3 October 2019. Our guests which included Judges, Barristers, Defence and Plaintiff Lawyers, Insurers, Regulators and Academics joined our members for our inaugural drinks evening. The evening was a tremendous success providing and promoting the development of valuable relationships across the most senior ranks of the industry for our members. 

ALFA Conference: Recommendations of the ALRC

The Association of Litigation Funders of Australia successfully held its second series of conferences in Melbourne and Sydney in March 2019. With almost 200 people attending the sell-out events, the Association was focused in creating a balanced debate on the recommendations that arose from the ALRC Report in January 2019.
With presentations from Justice's Derrington, Lee and Murphy as well as a lively contribution from ASIC, AICD, insurers, academics, defence and plaintiff law firms, the Association is extremely thankful to the participants and audience for making the event the success it was. 
Thank you to all our sponsors for their support of the Association and its events. 

ALFA Conference - March 2019

Following the release of the Australian Law Reform Commission report in January 2019, the Association of Litigation Funders of Australia has brought together key stakeholders to discuss the implications arising from the report and the likely approach of Government to implementing the recommendations in March 2019.

With thanks to our Conference sponsors for their generous donations:  Goal Group, Ironbark Funding, KordaMentha, Herbert Smith Freehills, Phi Finney McDonald, Vincents, Johnson Winter & Slattery, and Woodsford Litigation Funding.

Conferences will be held in Sydney and Melbourne and tickets can be purchased for the events here.

ALRC Final Report

The Australian Law Reform Commission has released its final Report “Integrity, Fairness and Efficiency- An Inquiry into Class Action Proceedings and Third-Party Litigation Funders” and this was tabled before Parliament on 24 January 2019. A link to the ALRC’s report can be found here.

Inaugural Conference

The Association of Litigation Funders of Australia will be holding their Inaugural Conference in response to the latest ALRC inquiry into Class Action Proceedings and Third-Party Litigation Funders. The event will be held in both Melbourne and Sydney in late October 2018.

ALFA would like to thank the following conference sponsors for their generous donations: Goal Group, Ironbark Funding, KordaMentha, Corrs Chambers Westgarth, Monash Business School, Ethical Regulation and Research Group, Pretium Funding, Slater & Gordon Lawyers, Herbert Smith Freehills, Phi Finney McDonald, Comprehensive Legal Funding, Vincents, Johnson Winter & Slattery, Woodsford Litigation Funding and Ashurst.

Tickets can be purchased for the events here.

Inquiry into Class Action Proceedings & Third-Party Litigation Funders

In August 2018, the Association of Litigation Funders of Australia (ALFA) delivered its submission to the Australian Law Reform Commission’s (ALRC) inquiry into Class Action Proceedings and Third-Party Litigation Funders. 

CEO of the Association Stuart Price said “The process to work with local and offshore litigation funders to develop a response to the inquiry that reflects a balanced and considered view of the industry, was extremely satisfying. The submission to the inquiry by the Association focused on the inherent risks that exist both locally and globally and relied upon empirical data for guidance to the extent these risks demand further regulation.”  
 
The submission by the Association to the ALRC can be downloaded here.

Establishment of The Association

In April 2018, the Association of Litigation Funders of Australia was established. Litigation Lending Services (LLS) was a founder member of this Association along with Augusta Ventures, Balance Legal Capital, Grosvenor Litigation Services, Investor Claim Partner (ICP) and Vannin Capital. The Association has appointed LLS CEO Stuart Price as the inaugural CEO and Managing Director of the Association.
 
Mr Price said “The commencement of an Association of Litigation Funders in Australia is an important milestone to reach. This demonstrates the importance and willingness of the industry to actively engage with the government, legislators, regulators and other policy makers to shape the regulatory environment for litigation funding in Australia. It is a privilege to work with the litigation funders active in Australia particularly at a time where there are reviews underway on the industry and the way it operates."