REPRESENTATIVE PROCEEDINGS – application for approval of settlement of representative proceeding – s 33V of the Federal Court of Australia Act 1976 (Cth) – principles relevant to settlement approval – whether proposed settlement fair and reasonable – whether proposed settlement distributions scheme just – whether certain deductions from settlement sum should be allowed – where proceeding conducted on a “no win, no fee” basis and without litigation funding – whether deduction for legal costs and disbursements, including “success fee” for applicants’ solicitors, should be allowed – whether actual and proposed costs of administration of settlement distributions scheme should be allowed, including “hold back sum” to allow distribution to group members permitted to register to participate in settlement after close of registration – whether costs incurred by applicants’ solicitors for adverse costs insurance should be allowed – whether reimbursement payment to applicants and sample group members should be allowed – whether non-publication orders should be made – settlement approved on basis that distribution of settlement sum proposed be adjusted to reflect disallowance of “hold back sum” and allowance of other proposed deductions – limited non-publication orders made
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2023/2023fca0896
For more information, see the original judgement.
