City of Swan v McGraw-Hill Financial Inc [2014] FCA 931

FEDERAL COURT OF AUSTRALIA

City of Swan v McGraw-Hill Financial Inc [2014] FCA 931 Citation: City of Swan v McGraw-Hill Financial Inc [2014] FCA 931

Parties: CITY OF SWAN, MOREE PLAINS SHIRE COUNCIL and BARON-HAY INVESTMENTS PTY LIMITED v MCGRAW-HILL FINANCIAL INC (FORMERLY KNOWN AS MCGRAW-HILL COMPANIES INC) , STANDARD & POOR'S FINANCIAL SERVICES LLC and STANDARD & POOR'S INTERNATIONAL LLC

File number: NSD 656 of 2013

Judge: RARES J

Date of judgment: 18 July 2014

Catchwords: PRACTICE AND PROCEDURE – power to amend description of group – representative proceeding under Pt IVA of Federal Court of Australia Act 1976 (Cth) – application to amend under s 33K of the Act to change description of group members for purposes of s 33C – policy and legislative purpose of Pt IVA of the Act – whether s 33K of the Act permits amendment to add group members after commencement of proceedings – whether power to extend time for amendment of description of group to permit new members to "opt in" – requirement that group members be able to be ascertained by pleaded description of a closed class within meaning of the s 33H of the Act

Legislation: Acts Interpretation Act 1901 (Cth) Federal Court of Australia Act 1976 (Cth) ss 33C, 33H, 33K

Cases cited: City of Swan v McGraw-Hill Companies Inc [2014] FCA 442 referred to Dorajay Pty Ltd v Aristocrat Leisure Ltd (2005) 147 FCR 394 referred to Larsson v WealthSure Pty Limited [2013] FCA 926 referred to McGraw-Hill Financial Inc v City of Swan [2014] FCA 665 referred to Multiplex Funds Management Limited v P Dawson Nominees Pty Limited and Another (2007) 164 FCR 275 applied Watson v AWB Limited [2009] FCA 215 referred to Wong v Silkfield Pty Limited (1999) 199 CLR 255 applied