"Vulture Lawyers" and "crazy" legal claims.

Should litigation lending be outlawed?

  • Yes-stop the ratbag claimants in their tracks

    Votes: 7 21.2%

  • No- let's help out these hedge funds and lawyers in making a quid in these tough times

    Votes: 5 15.2%

  • Depends on what litigation the funds are used for

    Votes: 11 33.3%

  • I don't know or care and I'm not going to read the link to that trashy Murdoch rag The Australian

    Votes: 10 30.3%
  • Total voters
    33
Rolf Latham said:
A lot become journalists, pollies and Union employees too

ta
rolf
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Oh how right you are...and some continued wth law and union and politics.....
By the way my accountant dropped out of law and my solicitior dropped family law and specialised in lecturing and conveyencing...
 
Terry_w said:
What about litigation funding where the director of a company has possibly allowed the company to trade while insolvent. The liquidator wants to 'commence proceedings' but there is no money left in the company. The creditors have the option of chipping in more money to fund this, but they all refuse (throwing good money after bad!!).

Should the liquidator seek litigation funding? creditors have nothing to lose. Director has a lot to lose though.
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Isn't the whole point of 'litigation funding' worth pursuing for the 'funding'? So if the director has no worth, thus no equity, what is it that the crediotrs are pursuing...unless justice and a prison term?
How often does this occur?
 
cu@thetop said:
I was going to start a new thread but in these times of environmental responsibility and recycling I've resurrected this one after seeing what would have to be the most frivolous lawsuit I've ever encountered:

http://www.news.com.au/world/man-su...ng-one-serviette/story-fndir2ev-1226841810261

Why would a lawyer take it on- except to get the publicity.

Best laugh I've had all week.
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--
I thought I'd seen everything..."Man sues McDonald?s for $1.5m after only getting one serviette"...now I have LMAO :eek: :D
 
MIW said:
Isn't the whole point of 'litigation funding' worth pursuing for the 'funding'? So if the director has no worth, thus no equity, what is it that the crediotrs are pursuing...unless justice and a prison term?
How often does this occur?
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Yeah, if th director has nothing then no point - often - but there are frequently transfers which can be clawed back. Recent case of the bankrupt lawyer who transferred his house to his wife for $1 just before going bankrupt.
 
I think in these days of increasing globalization, litigation funding may be a necessary evil. If you consider the difference in power between a massive multinational and individual consumers/citizens its a little frightening. A good tort lawyer is not enough to give you a fighting chance. You need something as big, bad and ugly on the other side of the line who can fight just as dirty to force a settlement. Yes some lawsuits are frivolous but others most certainly are not ..and we still lose them. Think about the tobacco litigation in the states.

As for the police, you would have to be terribly na?ve to think that police are not capable of corruption. I am very supportive of the police and think that they generally do a very difficult job very well, but there are bad apples in every walk of life and blind, unquestioning support is dangerous in my view. Of course police action needs to be subject to review and supervision.
 
I could go on all day about frivolous law suits... Spent 9 years doing personal injury law...for plaintiffs and now I'm on the dark side at a ctp insurer.

One of my favourites was a man who fell off a ladder at work and apparently hurt his meat and 2 veg.... Sadly he didn't realise all his medical records would be obtained....he had actually broken his bits whilst doing a "Craig Thompson".
 
I used to think the lawyers shows on tv were far fetched with their lawsuits. It seems fact is always stranger than fiction.
 
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