A shareholder class action against KPMG and the directors of defunct mining company CuDeco is seeking insurance information and a limited number of documents from the directors ahead of mediation, to avoid a “train wreck” of a case, a court has heard.
As the spotlight on class action costs grows, litigation funders can expect increased judicial scrutiny of their attempts to pass on the cost of after-the-event insurance premiums to class action members.
A clash between a class action applicant and a litigation funder over $1.2 million in claimed expenses has settled, after a judge ordered the sides to personally attend mediation.
Customers of wealth manager Colonial First State were $10 million to $12 million better off without aĀ litigation funder in a class action over the slow transfer of accounts to low cost MySuper funds, a judge has found.
A judge has slammed as a “schemozzle” a law firmās attempt to drop a class action by Telstra employees over the telecom giantās COVID-19 vaccine policy, saying it failed to seek court approval for the discontinuance or give notice to group members as required.
A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has expressed concerns about the ATO’s potential involvement in distributing settlement funds, saying the department was unlikely to efficiently reunite group members with their money.Ā
A bid to drop a class action against Philips Electronics over recalled sleep apnea machines showed a gap in access to justice that was āvery hard to fillā given the high cost of bringing large scale litigation, a judge has said.
A judge has ordered a litigation funder and the lead applicant in a settled class action to personally mediate a stoush over expenses, saying he doubted the applicant’s $1.2 million claim and said the court is “not a place for their sportā.
The question of power to make a common fund order at the end of a class action was no longer a hypothetical one and it was time to send the issue to the Full Federal Court. That’s what the 7-Eleven class action judge was told 15 months ago but he failed to heed the advice, resulting in a court deeply divided and funders clamouring for reform.
The applicants in a shareholder class action against KPMG and former directors of defunct mining company CuDeco might press for clarity on the question of common fund orders in light of a ruling Tuesday morning that further split the Federal Court on the issue.