Chris Merritt, Vice President of The Rule of Law Institute of Australia has prepared a report on Class Actions in Australia.
The report highlights that any system of compensation that costs more to run than it delivers in benefits cannot withstand the case for change and considers:
- the collateral damage associated with these claims for third parties;
- uncompensated losses;
- private enforcement; and
- principles for reform.
“The real problem is the law- which is at odds with the approach taken in comparable jurisdictions that are just as committed to keeping markets informed.. Responsibility for the law rests with successive federal governments that introduced this scheme.”
Chris Merritt has further discussed Class Actions in the Australian on 3rd September 2020, “Verdict on class actions: high costs, low benefits”