Kirby v Centro Properties Limited [2008] FCA 1505

FEDERAL COURT OF AUSTRALIA

Kirby v Centro Properties Limited [2008] FCA 1505

PRACTICE AND PROCEDURE – representative proceedings – whether multiple actions raising same issues should be permitted to proceed – factors to be considered in deciding whether to stay, consolidate or hold a joint trial – whether priority in time of filing, interests of lawyers, interests of litigation funders or interest of named plaintiff are relevant – whether best interests of the group as a whole should be the standard for determining which action should proceed and on what basis – whether multiple plaintiffs may be separately represented – risk of conflict of interest between solicitor and group members in class actions – whether litigation committee should be appointed in order to determine best interests of group members as a whole and select class legal representative – whether solicitor to represent class should be selected by means of court-supervised competitive bidding process

Federal Court of Australia Act 1976 (Cth) ss 33N, 33ZF Private Securities Litigation Reform Act 1995 (US) ss 15 USC 78u-4, 78u-5

Securities Litigation Attorney Accountability and Transparency Act (US), House Bill 5463, 110th Congress s 4 (2008) Securities Litigation Attorney Accountability and Transparency Act (US), Senate Bill 3033, 110th Congress s 3 (2008)

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