Haslam v Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218) [2007] FCA 897

FEDERAL COURT OF AUSTRALIA

Haslam v Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218) [2007] FCA 897 REPRESENTATIVE PROCEEDINGS – Approval of settlement against one respondent – where application unopposed – principles relevant to court approval – provision of adequate notice – whether proposed settlement is fair and reasonable and in the interests of group members as a whole – confidentiality of settlement terms Federal Court of Australia Act 1976 (Cth), s 33V, Pt IVA Australian Competition and Consumer Commission v Chats House Investments Pty Ltd (1996) 71 FCR 250 applied Australian Securities & Investments Commission v Money for Living (Aust) Pty Ltd (admin appted) & Ors (No.2) [2006] FCA 1285applied Courtney v Medtel Pty Ltd (No 5) (2004) 212 ALR 311 referred to Darwalla Milling Co Pty Ltd v F Hoffman-La Roche Ltd (No 2) (2007) ATPR 42-134 referred to Georgiou v Old England Hotel Pty Ltd [2006] FCA 705 referred to Harrison v Kerrili Pty Ltd (trading as Diakou Faigen) (Unreported, Supreme Court of Victoria, 6 June 2007) referred to Jarrama Pty Ltd v Caltex Australia Petroleum Pty Ltd [2004] FCA 1114 referred to Lopez v Star World Enterprises Pty Ltd (in liq) (1999) ATPR 41-678applied Neil v P & O Cruises Australia Pty Ltd (formerly P & O Holidays Ltd) [2002] FCA 1325 referred to Williams v FAI Home Security Pty Ltd (No 4) (2000) 180 ALR 459 applied MARY ANN HASLAM, BERNARD DICKENS, PHYLLIS LESLIE DICKENS, DELIA LEMON, ESTELLE SYLVIA SMITH AND ELAINE MAVIS GAINSFORD v MONEY FOR LIVING (AUST) PTY LTD (ADMINISTRATORS APPOINTED) (ACN 107 611 218), MFL PROPERTY HOLDINGS PTY LTD (ADMINISTRATORS APPOINTED) (ACN 111 105 125), STEPHEN O'NEILL, GARY DENNIS O'NEILL, JOLANTA SIMONE OLSZEWSKI, PERMANENT MORTGAGES PTY LTD (ACN 097 176 362), PERPETUAL TRUSTEE COMPANY LIMITED (ACN 000 001 007), LATROBE INVESTMENT SERVICES AUSTRALIA PTY LIMITED (ACN 007 416 211), CASH FLOW KING PTY LTD (ACN 108 343 853), PATRICK O'DONNELL, BILL KAFALTIS, JASON TALEB, KERRILI PTY LTD (ACN 097 980 222) (TRADING AS DIAKOU FAIGEN (A FIRM)), REGISTRAR OF TITLES, MKM CAPITAL PTY LTD (ACN 111 776 464), RECORDER OF TITLES, THE COMMISSIONER OF STATE REVENUE OF VICTORIA AND THE COMMISSIONER OF STATE REVENUE OF TASMANIA VID 1468 OF 2005