Flood victims to get at least 70% of compensation: Lawyers
FLOOD victims will not lose a cent to law firms if the class action against the State Government is unsuccessful.
That is the guarantee of Maurice Blackburn principal Damian Scattini regarding the no win, no fee class action.
There have been many comments on the QT website about this issue and among them are those saying that people will miss out and the lawyers will be the ones to benefit.
But Mr Scattini said residents signing up for the class action would not be out of pocket.
The risk is being underwritten by litigation funders IMF Australia.
"If someone recovers say, $100,000 out of this, they will have to pay a percentage of it to IMF," Mr Scattini said.
"The worst-case scenario would be 30% to the IMF and they (the flood victims) keep the balance.
The worst-case scenario would be 30% to the IMF and they (the flood victims) keep the balance.
"But they don't pay anything if it is unsuccessful and don't pay anything as the case goes along.
"If the case loses, usually you would have to pay the other side's costs.
"But they won't have to because IMF will pay that for them. IMF is also paying all the experts."
