11 Oct 2017

Doing Business in Australia: the Australian disputes landscape

There are two key drivers in the Australian disputes landscape that foreign investors need to understand, says Nick Mavrakis.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.

TRANSCRIPT

The most important issue confronting international law firms, and particularly international clients, is the increasing co-ordination amongst global regulators arising out of dawn raids and the sharing of information and ideas.  They are increasingly co-ordinating through Europe, the UK, Asia and the US and clients need to understand that the issues they confront in those jurisdictions equally apply here.

The second biggest issue we consider confronting international law firms and clients is a very large class action litigation funding environment.  We have a jurisdiction where litigation funding is encouraged, litigation funders are motivated by profitability and very large-scale proceedings are commenced with the single purpose of recovering as much damages as they can.  Often we have to be involved with clients from the beginning, mapping out strategy, defending those proceedings or working out a way to resolve those proceedings consistent with their global defence.