Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Richards v Macquarie Bank Limited (No 4) [2013] FCA 438 Citation: Richards v Macquarie Bank Limited (No 4) [2013] FCA 438
Parties: TRACEY RICHARDS v MACQUARIE BANK LIMITED ABN 46 008 583 542, STORM FINANCIAL LIMITED (IN LIQUIDATION) ACN 064 804 691 and AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
File number: QUD 590 of 2010
Judge: LOGAN J
Date of judgment: 3 May 2013
Corrigenda: 14 May 2013 ; 3 October 2018
Catchwords: PRACTICE AND PROCEDURE – representative proceedings – application for Court approval of a proposed settlement under s 33V of the Federal Court of Australia Act 1976 (Cth) – where group members total approximately 1050 people – where settlement reached between the parties following the conclusion of a lengthy trial – whether settlement is fair and reasonable both in a broad sense, and in terms of its internal operation Held: the settlement is fair and reasonable – the settlement is approved
Legislation: Corporations Act 2001 (Cth) s 564 Federal Court of Australia Act 1976 (Cth) ss 33H, 33V, 33ZF Trade Practices Act 1974 (Cth) s 73
Cases cited: Australian Competition and Consumer Commission v Chats House Investments Pty Ltd (1996) 71 FCR 250 considered Darwalla Milling Company Pty Ltd v F Hoffman-La Roche Limited (No 2) (2006) 236 ALR 322 considered Lombe, in the matter of Babcock & Brown Limited (In Liquidation) [2012] FCA 107 considered Wide Bay Conservation Council Inc v Burnett Water Pty Ltd (No 9) (2011) 194 FCR 250 considered Williams v FAI Home Security Pty Ltd (No 4) (2000) 180 ALR 459 considered
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