Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (No 3) [2017] FCA 330

FEDERAL COURT OF AUSTRALIA

Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (No 3) [2017] FCA 330 File number: NSD 1609 of 2013

Judge: BEACH J

Date of judgment: 31 March 2017

Catchwords: REPRESENTATIVE PROCEEDINGS – application for approval of settlement by Court pursuant to s 33V of the Federal Court of Australia Act 1976 (Cth) – whether proposed settlement is fair and reasonable as between group members and the respondents – whether proposed distribution scheme is fair and reasonable as between group members – claims of unregistered group members – consideration of options dealing with claims of unregistered group members – application for common fund order – consideration of appropriate commission rate for litigation funder – setting of commission rate – approval granted

Legislation: Constitution s 51(xxxi) Corporations Act 2001 (Cth) s 177 Federal Court of Australia Act 1976 (Cth) ss 33V, 33Z, 33ZB, 33ZF

Cases cited: Australian Securities and Investments Commission v Richards [2013] FCAFC 89 Bayens v Kinross Gold Corporation (2013) 117 OR (3d) 150; 2013 ONSC 4974 Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (2015) 325 ALR 539; [2015] FCA 811 Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (No 2) [2016] FCA 1310 Camping Warehouse Australia Pty Ltd v Downer EDI Ltd [2016] VSC 784 Cannon v Funds for Canada Foundation 2013 ONSC 7686 Courtney v Medtel Pty Ltd (No 5) (2004) 212 ALR 311; [2004] FCA 1406 Dorajay Pty Ltd v Aristocrat Leisure Ltd [2009] FCA 19 Dugal v Menulife Financial Corp (2011) 105 OR (3d) 364; 2011 ONSC 1785 Dugal v Menulife Financial Corp 2011 ONSC 3147 Earglow Pty Ltd v Newcrest Mining Ltd [2016] FCA 1433 Foley v Gay [2016] FCA 273 Georgiadis v Australian and Overseas Telecommunications Corporation (1994) 179 CLR 297 Money Max Int Pty Ltd (Trustee) v QBE Insurance Group Limited (2016) 338 ALR 188; [2016] FCAFC 148 Mutual Pools & Staff Pty Ltd v Commonwealth of Australia (1994) 179 CLR 15 Newstart 123 Pty Ltd v Billabong International Ltd [2016] FCA 1194 Nintendo Co Ltd v Centronics Systems Pty Ltd (1994) 181 CLR 134 Richards v Macquarie Bank Ltd (No 5) [2013] FCA 1442 Rooney v ArcelorMittal S.A. 2013 ONSC 7768 The Trustees of the Labourers' Pension Fund of Central and Eastern Canada v Sino-Forest Corporation 2012 ONSC 2937 Barker G, "Third Party Litigation Funding in Australia and Europe" (Working Paper No 2, Centre for Law and Economics, ANU College of Law, December 2011) Eisenberg, T and Miller G, "Attorney Fees and Expenses in Class Action Settlements: 1993-2008" (2010) 7(2) Journal of Empirical Legal Studies 248-281 Eisenberg, T, Miller G and Germano R, "Attorneys' Fees in Class Actions: 2009-2013" (NYU Law and Economics Research Paper No. 17-02, December 2016) IMF (Australia) Ltd, "Submission to the Productivity Commission: Access to Justice Arrangements" (18 November 2013) Productivity Commission, Productivity Commission Inquiry Report, Access to Justice Arrangements, Volume 2 (No 72, 5 September 2014)