A judge has approved a common fund order awarding $6.88 million to the funder behind a class action against Fonterra that settled for $25 million, opting not to wait for a much-anticipated appeals court ruling on the power to make CFOs at settlement.
A judge has indicated his willingness to approve a $25 million settlement in a class action against dairy co-op Fonterra, but deferred the question of the funder’s cut until after the Full Court rules on whether the court has the power to make a common fund order at settlement.
Group members in a class action against Fonterra are set to reap about $13 million from a $25 million settlement reached with the dairy company, following deductions including the costs of the litigation funderâs after-the-event insurance.
Fonterra has agreed to shell out $25 million to settle a class action by dairy farmers alleging they were underpaid when Fonterra slashed milk prices and sought a âclawbackâ in 2016.
Australia’s largest milk producer Van Dairy has hit Fonterra Australia with lawsuits alleging the processor misled farmers and engaged in unconscionable conduct when it slashed milk prices in 2016.
In a victory for Victorian independent candidate Zoe Daniel, the state’s Supreme Court has found that promotional signs displayed on lawns did not fall foul of a local council ban on unauthorised displays.
Dairy co-operative Fonterra has lost a bid to keep the company’s name out of the domain of a website to be set up for a class action brought by farmers alleging they were unlawfully underpaid when Fonterra slashed milk prices and sought a “clawback” in 2016.
Fonterra has hit back at claims in a class action that the dairy giant misled farmers and breached its supply agreements when it slashed milk prices and sought a clawback in 2016, saying it warned farmers of the “extreme” volatility in the market.
Fonterra could bring counter-claims against dairy farmers that brought a class action alleging they were unpaid when the company slashed milk prices in 2016, a court has heard, after debt recovery proceedings by Fonterra against the lead applicants were joined with the class action.
Fonterra has been hit with a class action by disgruntled dairy farmers who allege they were unlawfully underpaid when the processor slashed milk prices and sought a “clawback” in 2016.