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What is Litigation Funding?

If you’re someone who’s currently in need of legal funding or just curious about it, this piece is for you.

What is litigation funding and how does it work?

Litigation funding is a legal practice that allows a third party that is unrelated to the lawsuit to provide capital to a plaintiff in return for a portion of any financial recovery from the same lawsuit. It’s also called legal financing or third-party litigation funding.

This practice levels the playing field in the legal system in Australia as it enables those who lack funding to litigate a claim.

The capital provided by a litigation funding firm is often used to pay for legal expenses like attorney’s fees, expert witness fees, and other court expenses.

It’s also often structured as a non-recourse investment, not as a loan. Meaning, that even if the funded lawsuit does not result in a financial recovery, the plaintiff still won’t owe anything.

Other Types of Litigation Funding

Litigation funding is not a one-size-fits-all type of set-up. The way things work will depend on the arrangement of the plaintiff, attorneys/law firms, investors, and the regulations that cover the practice.

Third-party funding

This is when a party not involved with the case pays for the legal fees and expenses of the lawsuit in exchange for an agreed return.

No win, no fee funding

This is one of the most common types of funding as it allows you to make a compensation claim with no financial risks involved. You only pay your lawyers if your claim is successful.

After the event insurance

These are insurance policies that normally cover the legal costs of a claimant or a defendant when the case is either lost at trial, abandoned, or settled.

These insurance policies are often purchased at the point when the solicitor begins a claim.

Adverse cost-insurance

This is a type of insurance that covers the costs of the insured party if the case is unsuccessful, and he or she is ordered to pay the other party’s costs.

On the other hand, if the case is successful, the cost of the insurance will be deducted from the compensation.

Damages-based agreement

This set-up is also called a contingency fee agreement. It means that the fee of the litigator will depend on the success of the claim, instead of an hourly rate. The litigator is often given a percentage of the damages that are awarded to the client.

Disbursement-only funding

This kind of agreement is often used in personal injury cases. And you may get this set up from only a handful of selected and approved law firms in Australia that have a guaranteed agreement with Legal Funding Australia.

Litigation Funding Regulations

Any litigation funding company should hold an Australian Financial Services License and the funding scheme that they operate must be registered as a management investment scheme as well.

Aside from these, the funding company must also:

  • Have adequate professional indemnity insurance
  • Hold sufficient financial resources
  • Assign responsible managers to maintain high standards
  • Pay annual ASIC fees
  • Be a member of the Australian Financial Complaints Authority

The Association of Litigation Funders of Australia also provided non-mandatory Best Practices Guidelines to the members of its association.

This guideline lays out the best things to do when developing standards, policies, and procedures.

Areas of Concern in Litigation Funding

According to a Parliamentary Joint Committee on Corporations and Financial Services report, these are only some of the key areas of concern in the said practice.

  • the participation of foreign litigation funders, which are not incorporated in Australia and so are subject to less domestic scrutiny (recommending the restriction of litigation funders to Australian law and jurisdiction).
  • the Federal Court’s constrained ability to regulate litigation funding (recommending litigation funding agreements be approved by the Federal Court, with the court to have the power to alter, vary or amend an agreement).
  • the lack of transparency about settlement agreements (recommending the mandatory publishing of specific information when a settlement is approved); and
  • solicitors, barristers and law firms having a financial interest in a litigation funder that is funding the same matters in which the solicitor, barrister or law firm is acting (recommending the uniform solicitors conduct rules be amended to prohibit this).

Seek legal advice from experienced litigation lawyers

If you need some help to fund your claims, it’s best to discuss legal funding matters with lawyers who are well-versed in litigation funding. This way, you can make the best decisions that will help win your case.

Becoming An Electrician: A Helpful 6-Step Guide

Being an electrician, especially a good one, is definitely far from easy and if you’re good at your job, then you should definitely be very proud of yourself. Just think how beneficial you are to so many people.

So many companies and households nowadays depend on your skills because whenever there is something wrong with electricity, you will be the first person they will try to reach which is why electricians are constantly in high demand.

On the other hand, the truth is not every electrician is a good and reliable one, hence, if you strive to be the best in this line of work you have to constantly work on improving yourself. If you’re just getting started, then check out these great tips that will help you become the best.

Superb Tips To Help You Be The Most Amazing Electrician

Training Is Very Important!

As it was stated in the beginning, becoming a good electrician isn’t something that happens overnight. It definitely requires a lot of time, dedication, and effort, but it’s surely worth every second since this is a job that can give you a substantial amount of money.

Practically in every part of the world electricians have a great income. For instance, in the United Kingdom, one can receive up to 50 pounds per hour. In Australia, up to 45 dollars per hour, and a similar situation is in New Zealand as well.

And that’s precisely why you should stay very focused during training. Pay attention to everything that’s been said because that’s something that will help you blast off your career. Training usually takes approximately four years and is normally completed through a course or an apprenticeship.

Having The Right Tools Is A Must!

It doesn’t matter how great and skilled you are, without the right tools you cannot expect to resolve any issue. If you’re relatively new to this, and you’re not too sure what must be part of your equipment, you can always Google the extensive master list of electrician tools to see what you as a resourceful electrician must always bring along. What are the most important ones?

The list is quite extensive, however, we will help you out by mentioning the ones that are the most important. They include:

  • Channel Lock Pliers
  • Approved Voltage Indicator (AVI)
  • Insulated Screwdrivers
  • Diagonal Pliers
  • Side Cutters
  • Wire Strippers
  • Crimps
  • Multifunctional Tester
  • Battery Drill

Adding More Useful Suggestions Below

Get Yourself, Familiar, With The Manual

If you’re currently working for a company, then you should gather all the important information regarding the procedures and policies of that particular company. Take these things seriously if you want to be perceived as responsible and reliable.

Study every single thing that’s been written in the manual, because at some point you will be obligated to take a test on these things. Remember, if you do not master this properly, you will never be as good as you’re supposed to be.

Obtain The Right State Electrical Licenses

When it comes to the licensing requirement, it highly depends on the state you live in. Still, one rule applies to everything and that is that you must have proper licensing before you start working as an electrician.

Why is it so important? Well, it’s because it will showcase that you are familiar with all the state electrical codes, local electrical codes, and National Electrical Code. These are all crucial things that must be comprehended if you want to start on the right foot. Therefore, you should call your local licensing board to see which licenses you must have before you start working.

Have Great Communication Skills

It doesn’t matter whether you’re working for a certain company, or independently, you have to possess good communication skills if you want to be perceived as a good and reliable electrician.

Bear in mind that you’ll be collaborating with people from different lines of work, such as contractors, crews, architects, managers, and many others. All of them have different personalities and approaches.

That’s precisely one of the reasons why having excellent communication skills is a must. If you want to make sure your ideas and strategies are not misunderstood, you’ll have to focus on explaining them properly.

Treat Your Customers Right

Besides various professionals, you’ll be also dealing with your customers as well. These people must feel like you are treating them right and as if they matter, hence, whenever you’re talking to them, maintain consumer-friendliness.

There are many traits that adorn a good electrician. Being skilled and talented isn’t always enough. That’s precisely why we made a list of things that you must possess if you want to stay in the business for a long, long time.

Most Asked Questions About Professional Negligence Claims

Professional negligence claims! You want something done, and you want it done professionally. You naturally search for companies or service providers that claim that they can do the job right. You hire one and lo and behold – they aren’t up to par with their claims and worse, your standards.

What do you do when this happens?

It is utterly disappointing and can be downright frustrating that despite spending a lot of money and time to look for a professional, the end-product doesn’t live up to expectations.

What can you do when this happens?

You can actually file a case against them, with the help of legal counselling. Before you go stomping into court or wave demand letters, learn more about professional negligence claims and how you can protect yourself in the future.

What are professional negligence claims?

In a nutshell, these are service providers that don’t make do with their promises. They don’t deliver the type of service they said they would, or their product/s didn’t perform the way they say they would.

Small or big, it doesn’t matter how large of a company or contract you entered into. As long as there is an established professional relationship between the seller and buyer, you can file a professional negligence claim if deemed necessary. Professional negligence claims are confined to certain industries. You can confidently file a lawsuit against a service provider or supplier.

If their failure has caused you financial distress and damages, you are in the right position to file a lawsuit. Some companies forget why they were hired in the first place – clients search for professional-grade products or services and they’re willing to spend for it.

What are the elements of a strong negligence claim?

Human error is common and expected in every industry. No matter how good of a professional one claims to be, they’re bound to commit mistakes one way or another. Can one mistake be a cause to file a lawsuit against them?

Not every error needs to be settled in court. Please consider the following elements that make up a strong negligence claim:

  • “Duty of care” is the professional’s responsibility and obligation
  • They acted negligently
  • You have suffered financial loss, damage to property and self or worse, resulted in death.

You must have all three elements to be able to file a strong professional negligence claim against them. What should you expect when you win the case?

You should be properly compensated for the financial losses and damages to property. They should be able to pay for any future expenses that might be incurred due to their negligence, such as physical therapy and such. Aside from these, they should also shoulder legal and court fees that you paid for when filed this professional negligence claim.

How do I file a professional negligence claim?

You should first talk to professional negligence lawyers in Brisbane. They are well-versed in the laws that surround such cases and they’d be able to assist you in fighting for your rights as a consumer.

The professional you intend to go up against is most likely aware of the laws that encompass his or her profession or industry. They’d most likely have connections too. This is why talking to one of the best lawyers in town will be your best hope in winning this case.

When you get a chance to talk to a lawyer, they’ll discuss with you every step of the way that needs to be faced to be able to win this case. While filing a professional negligence case is certainly time consuming and will probably put a dent in your wallet, you are fighting for your rights as a consumer and should be able to put up a good fight especially when you evidence is strong.

Dentons Brisbane Grows Team with Another New Partner

Dentons Brisbane continues its growth trajectory with the addition of another new partner Caroline Snow. Caroline joins as a corporate partner specialising in equity capital market transactions, complex governance, regulatory and compliance matters.

Caroline also brings extensive experience as a corporate advisor to property and mortgage fund managers, listed and unlisted managed investment schemes, financial services clients, and activist security holders.

Caroline’s appointment continues the growth of Dentons Brisbane, with Caroline joining recent partner appointments of Recovery and Restructuring Partner, Claire Petersen; Banking and Finance Partner and Head of Office, Craig Chapman; and Real Estate Partner, Cara Richardson.

Dentons’ Australia Region Chair and Australasia Chief Executive Officer, Doug Stipanicev said that in just six months, four new partners had been added to Dentons Brisbane, and that Dentons was well on the way to achieving a short term Brisbane partner target of ten.

In line with this economic development, the Brisbane office serves major banks and businesses, regional offices of multinationals, overseas investors and start-up visionaries. Regional and national government and its agencies rely on our advice in helping facilitate growth.

They benefit from a team providing comprehensive advice to both established and new market participants, from the energy and resources industry, to construction and infrastructure, property development and financial services through to new technology.

About Dentons Law Firm

Dentons is the world’s largest law firm, connecting top-tier talent to the world’s challenges and opportunities with 20000 professionals including 12000 lawyers, in more than 200 locations, in more than 80 countries.

Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and award-winning client service challenge the status quo to advance client interests.

Pinsent Masons Advises on NSW Bushfires Project

Bushfires began in Australia in August 2019 and in early November they spread throughout New South Wales (NSW) due to high temperatures and prolonged drought.

Pinsent Masons is advising Laing O’Rourke on the first phase of recovery clean-up works following recent bushfires across NSW. Pinsent Masons is a multinational law firm with a reputation for delivering high-quality legal advice rooted in its deep understanding of the sectors and geographies in which their clients operate.

In early December 2019, the fires spread to Victoria, Western Australia, South Australia, and in early January 2020, to the Australian Capital Territory.

The fires burned over 27 million acres across Australia, with approximately 3102 homes destroyed, including over 2300 homes in New South Wales.

The NSW Government has selected Laing O’Rourke Australia as the lead contractor to undertake the clean-up of residential and commercial properties destroyed by the recent bushfires across the state. The construction and engineering specialist is currently engaging with the community regarding plans to deliver the project as promptly as possible.

The contract was announced in conjunction with an agreement reached by the federal and state governments to split the costs of the NSW clean-up, which are expected to run into the hundreds of millions of dollars.

Pinsent advised Laing O’Rourke on the contract arrangements with the NSW Government. The Pinsent team was led by partner Anthony Arrow and special counsel Katie Joukadjian.

Grants are made available to eligible individuals and families whose homes and essential household contents have been damaged or destroyed in bushfires.

Law Firm Advises Sydney Metro on Joint Venture

A law firm has advised Sydney Metro on their contracts with the John Holland and Mirvac joint venture on the new Waterloo Metro Quarter integrated station development.

Ashurst is a leading global law firm and for almost 200 years we have been advising local and global corporates, financial institutions and governments on their most complex transactions, disputes and projects.

With 29 offices in 17 countries and a best-friend referral relationship with an Indian law firm, we offer the international insight of a global network combined with local market knowledge.

The development will revitalise the area and better connect the community, and is made up of five building envelopes above and adjacent to the new Waterloo metro station.

Ashurst advised Sydney Metro on both the station and precinct development contracts.

The Sydney Metro is a fully automated rapid transit system serving the city of Sydney, New South Wales, Australia. Currently consisting of one line that opened on 26 May 2019, it runs from Tallawong to Chatswood and consists of 13 stations and 36 km of twin tracks, mostly underground.

Olivia was assisted by partner Alex Guy, counsel Melinda Harris, Ben Kipic and Sarah Southall, senior associates Susannah Lace and Andrew Higgins, and lawyers Codie Gippel, Marya Atmeh, Rhiannon Evans, Lachlan Mack, Cameron Griffiths, Joshua Lee, Chloe Kwon and Joyce Teng.

Lawyers from the firm’s tax, dispute resolution, environment and planning, and corporate teams also advised.

Construction of the over station development is due to start in 2022. It will be built at the same time as work on the new metro station continues above and below ground. This will reduce the length of time that the community can expect construction impacts and allow for the WMQ to be ready close to when Sydney Metro City & Southwest services start in 2024.