Ruling may incite more class actions

Original article by Marianna Papadakis,Hannah Low
The Australian Financial Review – Page: 11 : 21-Aug-14

Canada-based ­International Litigation Funding ­Partners (ILFP) is bankrolling a stockholder class action suit against Allco Finance Group. The Federal Court of Australia will on 21 August 2014 rule on whether ILFP can claim between 22.5% and 35% of any payout under the "common fund" method that covers all plaintiffs, even those who have not specifically agreed to be part of the funding arrangement. The decision will have an impact on other current class actions, involving major banks and telcos

CORPORATES
INTERNATIONAL LITIGATION FUNDING PARTNERS INCORPORATED,ALLCO FINANCE GROUP LIMITED,FEDERAL COURT OF AUSTRALIA,BENTHAM IMF LIMITED – ASX IMF,KPMG AUSTRALIA PTY LTD,MAURICE BLACKBURN PTY LTD,CLAIMS FUNDING AUSTRALIA PTY LTD,CLAIMS FUNDING EUROPE,NATIONAL AUSTRALIA BANK LIMITED – ASX NAB,SUPREME COURT OF VICTORIA,MODTECH ENGINEERING PTY LTD,GPT MANAGEMENT LIMITED,UNIVERSITY OF NEW SOUTH WALES,KING AND WOOD MALLESONS,AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ,CITIBANK PTY LTD,WESTPAC BANKING CORPORATION – ASX WBC,AUSTRALIAN COMMUNICATIONS CONSUMER ACTION NETWORK LIMITED,TELSTRA CORPORATION LIMITED – ASX TLS,SINGTEL OPTUS PTY LTD,SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT,VODAFONE HUTCHISON AUSTRALIA PTY LTD,HARBOUR LITIGATION FUNDING LIMITED

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