Seven car makers defending class actions over defective Takata airbags have confirmed they will not be challenging a landmark decision that set aside a pre-settlement class closure order in the cases.
An appeals court has overturned a ruling ordering class closure in seven representative proceedings against car makers over defective Takata airbags, finding courts do not have the power to make class closure orders.
The lead applicants in seven class actions against auto manufacturers over explosive Takata airbags have criticised the courts for losing their way in ensuring justice is done, in a landmark challenge to class closure orders made in the cases.
Not bowed by its defeat against Westpac in a case over alleged responsible lending breaches, the Australian Securities and Investments Commission has brought action against Volkswagen alleging similar violations of the credit laws in relation to almost 50,000 car loans over three years.
A Federal Court judge has slapped Volkswagen with a record $125 million penalty over its emissions cheating scandal after expressing outrage at a “manifestly inadequate” $75 million settlement agreement reached with the Australian Competition and Consumer Commission.
The applicants in a group of class actions over defective Takata airbags are pushing ahead with a challenge to the power of the NSW Supreme Court to issue class closure orders in the aftermath of a High Court decision shooting down common fund orders, a fight that could send the cases back to the High Court.