Australia’s position at the forefront of litigation funding rests in large part in the hands of one company, IMF, which pioneered the approach.

While the company went public six years ago, it was a landmark ruling less than six months ago that transformed the group’s prospects. In the so-called Fostif case, the high court decided there was no public policy reason why litigation funding firms should be prevented from financing or co-ordinating class actions on behalf of others.