Litigation funding and market disclosure rules set for overhaul
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A government plan to give company directors a permanent reprieve on continuous disclosure obligations has been given a tick of approval by a parliamentary committee investigating litigation funders.
The committee s final report released on Monday was generally scathing of the litigation funding sector, which it accused of using the justice system for the primary motive of generating a return on investment.
Committee chairman Senator James Paterson.
Alex Ellinghausen Under the current regulatory framework victims are getting cents on the dollar whilst litigation funders and their shareholders are seeing returns of up to 500 per cent, committee chairman Senator James Paterson said.