Suiting up: Rising awareness of industry services has funded revenue growth
Litigation funding is still a comparatively new development in Australia. The abolishment of laws relating to champerty, an agreement by a third party to fund a lawsuit in return for a share of the plaintiff's proceeds, over the past roughly two decades has resulted in the creation of the Litigation Funding industry. As industry firms take a percentage of the settlement fee on the successful conclusion of the case, litigation funders are highly selective in the cases they fund. The irregular nature of settlement payments that litigation funders rely on causes significant fluctuations both revenue and profit for the industry. Rising awareness of the industry's services and strong demand from class action cases has seen the industry expand rapidly over the past five years Litigation funding revenue is expected to increase at an annualised 9.3% over the five years through 2022-23 to total $168.8 million.
Industry firms primarily fund litigation on commission, which is a portion of the settlement or judgment proceeds. The industry excludes lawyers and legal services companies.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Omni Bridgeway Limited
- Litigation Capital Management Ltd
- Litigation Lending Services Limited
Methodology
LOADING...
