This project aims to assist individuals who have been wronged by the Australian banks, by funding and helping with litigation claims against the banks.
The objective of this project is similar to http://www.imf.com.au/about-us, except I won't impose a minimum claim amount, so that every individual has the opportunity to receive assistance.
HOW THIS DIFFERS TO WHAT IS ALREADY AVAILABLE
Whilst there are lawyers who offer a no-win-no-fee service, their legal fees and expenses are extraordinarily high and often are in excess of the compensation sought from the other party. Also, the legal fees and expenses are not known until the matter is finalised, putting additional significant stress on the person who is trying to recover losses from the bank.
The intention of this project is to fund an initial litigation claim against the bank, and as payment for my services, I would seek 20% of the amount recovered, which would fund the next claim. The benefit of this service is that the cost to the client is known from the beginning; 20% is all they pay, and only for a successful outcome.
I have a relative who has been taken advantage of by her bank (by over $200,000), and she cannot afford to sue the bank. No lawyer will act pro bono due to the protracted nature of these types of litigation matters, and the lawyers who offer a no-win-no-fee approach have advised that their costs are likely to exceed what my relative has lost.
The amount sought for this project will allow me to engage a lawyer and/or barrister on an as-needs basis, and cover ongoing fees such as courst costs, travel and operating expenses, to secure my first win against the bank.