Background
On 24 January 2019, the Australian Law Reform Commission
(ALRC) report ‘Integrity, Fairness
and Efficiency—An Inquiry into Class Action Proceedings and
Third-Party Litigation Funders’
(Report) was tabled in Parliament.
The basis for the Inquiry was the increased prevalence of class
action proceedings commenced in Australian courts, and the role of
litigation funders in those class actions.
The Report contains 24 recommendations concerning the Federal
system, some of which depart significantly from the reform measures
proposed in the ALRC’s Discussion Paper of 31 May 2018
(Discussion Paper).
If implemented, the recommendations would change significantly
the class action landscape and may lead to further legislative
reform of securities law.
