Ernst & Young is facing a claim for $12 million damages in a lawsuit over its auditing of collapsed soda ash maker Penrice.
New rules for funders of insolvency claims: Business as usual for some, not for all
Recent changes in the Australian regulation of third-party funders will have a dramatic effect on the funding of certain disputes. Although these changes were accompanied by Government and industry commentary that they would not affect litigation funding for insolvency-related claims, this may not be the case for all insolvency funding arrangements, writes Lina Kolomoitseva of funder Litigation Capital Management.