Woodsford funds class action filed by Shine Lawyers on behalf of members of the Rest Superannuation fund. This is another example of Woodsford working with leading class action lawyers, in this instance Shine Lawyers, to provide collective redress for consumers affected by alleged corporate misconduct. The Rest Superannuation fund is amongst one of the largest Australian super funds by membership with in excess of 1.9 million members of which up to 500,000 members are potential class members. The class action alleges that members were, without their choosing and by default, signed up to i ..read more

Woodsford’s evolution from traditional litigation funder to collective redress business In a recent article for GBRW Expert Witness, Woodsford’s Steven Friel and Muhammad Arayne have described how we have moved beyond simply being a provider of passive capital for single-case litigation and are now, alongside Woodsford Engage, pioneers in using collective redress mechanisms to deliver access to justice. Whether in the fields of competition law or securities litigation, and in jurisdictions from the UK to the Netherlands, to Japan and Australia, Woodsford has expanded i ..read more

Woodsford supports Toyota Diesel Defeat Device class action in Australia. Woodsford supports another major Australian class action with a claim filed yesterday (17th October) in the Supreme Court of Victoria on behalf of up to half a million owners of diesel-powered Toyota vehicles. The class action filed yesterday by Victoria-based Maddens Lawyers alleges that Toyota Motor Corporation Australia Limited manufactured and sold hundreds of thousands of diesel vehicles to Australian consumers that possess engine design features commonly known as ‘defeat devices’. Woodsford is funding the claim. It ..read more

Woodsford supports further major Australian class action filed against IG Markets Limited and IG Australia Pty Ltd (“IG”) A class action was filed on Monday (14 August 2023) in the Federal Court of Australia relating to IG’s offering of over-the-counter derivative products known as contracts for difference (“CFDs”) or binary options (“Binaries”) to retail investors from 4 May 2017 to 11 August 2023. The action is being funded by Woodsford, a leading global ESG, access to justice and litigation finance business. The applicant is represented by law firm William Roberts Lawyers. The action allege ..read more

Court decides that groundbreaking £150m class action on behalf of UK car buyers can proceed London’s specialist competition court, the Competition Appeal Tribunal, has today  (Friday 18 February) given the green light to a class action on behalf of millions of motorists and businesses, who bought or leased a new car between October 2006 and September 2015, to claim against 5 shipping companies that imported cars into Europe. The European Commission (EC) has already found that the maritime car carriers fixed prices, rigged bids and allocated the market for roll-on, roll-off (“RoRo”) transp ..read more

Hyundai and Kia engine defect class actions launched in Australia Class actions were filed on Wednesday (15th February) in the Federal Court of Australia relating to defective engines in various Hyundai and Kia vehicles sold in Australia from 2011 to date. The actions allege that the numerous vehicles sold by Hyundai and Kia in Australia were offered for sale with engines that were manufactured or designed defectively and, as result, have the propensity to exhibit faults, including sudden loss of power (including while driving), increased oil and fuel consumption, emission of smoke, and in som ..read more

Rail Passengers Cleared to Make £93m Legal Claim for ‘Boundary Fares’ London’s specialist competition court, the Competition Appeal Tribunal (the “Tribunal”) has given the green light to rail passengers to seek compensation for overcharging by the Southeastern and South Western rail franchises by not making ‘boundary fares’ sufficiently available to consumers.  In a judgment delivered yesterday,   The standalone claim was the first of its kind to be filed in the UK and is estimated to be worth around £93m in damages for rail users. In its judgment, which can be accessed here, th ..read more

Yesterday, 3rd October 2022 ,Woodsford submitted our considered response to the Australian Treasury, in respect of the draft Corporations Amendment (Litigation Funding) Regulations 2022. “Woodsford is in favour of the proposal that an explicit exemption be provided for litigation funding schemes from the definition of a managed investment scheme in section 9 of the Corporations Act 2001. The decision in Brookfield Multiplex Ltd v International Litigation Funding Partners Pty Ltd (2009) 180 FCR 11, and the subsequent removal in August 2020 of the relief from the MIS-requirements afforded to fun ..read more

Woodsford can now fund class actions in Australia We are delighted that we have been granted an Australian financial services (AFS) licence by the Australian Securities Investment Commission (ASIC) authorising us to fund class actions in Australia as Managed Investment Schemes under new regulations which came into effect last year. Woodsford is now one of a small number of litigation funders, and the first overseas funder, able to fund new class actions in Australia under the changed regulatory landscape. Woodsford’s wholly owned subsidiary, Woodsford Australia Limited, has been granted the AF ..read more

Govia Thameslink Railway to face legal claim worth up to £77m The claim, funded by Woodsford, is seeking compensation worth up to £77m for routine overcharging on train tickets affecting an estimated 3.2 million passengers and has been filed against the operator of one of Britain’s busiest commuter railway networks. The collective claim against Govia Thameslink Railway (“GTR”) – the operator of the Great Northern, Southern, Gatwick Express and Thameslink lines – was filed on Wednesday 24th November with London’s specialist competition court, the Competition Appeal Tribunal (the “Tribunal”). It ..read more