A Different Perspective
The global litigation finance industry emerged from Australia in the late 1990s.
Before then, there was an imbalance where a party in a legal dispute with the deepest pockets held a significant commercial advantage. Legal disputes should be resolved on the strength of the facts and legal basis, and requires an ‘equality of arms’ between the parties.
CASL’s co-founder John Walker was determined to develop a solution for this problem, and was a pioneer in every sense of the word.
Fast forward 25 years and the global litigation finance industry exists in over 23 countries and is emerging in many more.
Prior to CASL, John Walker and Stuart Price engaged with each other in 2018 to create The Association of Litigation Funders of Australia (ALFA), which has been a leading voice in various reviews conducted by the Government.
CASL was formed in 2020 by John Walker and Stuart Price with the continuing objective of creating a level playing field and providing access to the legal system for claimants to prosecute legitimate claims.
The success of CASL is undoubtedly the product of our team. CASL has one of the most, if not the most, experienced litigation finance teams in Australia. This experience demonstrates our entrepreneurial spirit, success in large and complex litigation across class actions, insolvency and commercial disputes, our creativity in designing alternate, and sometimes trailblazing, approaches and the tenacity to achieve outcomes.
CASL is determined to lead the market, and was one of the first to be granted its Australian Financial Services license including the authorisation to be a Responsible Entity to class actions operated as managed investment schemes (MIS). Prior to the 2022 Stanwell decision, CASL was Responsible Entity to twelve MIS schemes enabling the market to operate efficiently and cost effectively. This solution again demonstrates the vision and execution of market and industry development alongside the business interests of CASL.
In 2022, CASL completed its inaugural capital raising, securing commitments of $160 million to invest. This capital raise reflects the ambition of CASL and is the largest dedicated capital pool available to the market.
Our history will be written by what we do in the future. Our achievements in the past are a reminder of what our people are capable of, and our determination to succeed.
CASL has the same pronunciation as the word ‘castle’, which is often defined as:
“A large building fortified against attack with thick walls, battlements, towers and in many cases a moat”
CASL promotes strength, safety, support, confidence and is formidable as well as representing a beacon of hope. This fits well with our objective of providing access to the legal system to those with legitimate claims.