An Australian first: Contingency fees in Victoria
In an Australian first, contingency fees for lawyers are being proposed in Victoria. That is, lawyers earning their fee by a percentage of a court award or settlement.
The Justice Legislation Miscellaneous Amendments Bill 2019 is progressing through Victorian parliament at present. The bill when passed will create a new ‘group class order’ which will both allow law firms to earn such fees but also make the law practice who is representing group members liable to pay any costs ordered to the defendant in the proceeding and if required must give security for the defendant’s costs in the proceeding.
This article is a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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