Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
HFPS Pty Limited (Trustee) v Tamaya Resources Limited (in Liq) (No 3) [2017] FCA 650 File number: NSD 529 of 2014
Judge: WIGNEY J
Date of judgment: 13 June 2017
Catchwords: PRACTICE AND PROCEDURE – representative proceeding – application for Court approval of settlement of proceedings under s 33V of the Federal Court of Australia Act 1976 (Cth) – whether the settlement is fair and reasonable and in the interests of the group members as a whole – factors relevant to the reasonableness of the settlement – reasonableness of costs and disbursements of legal advisers – reasonableness of fees and commission to be paid to litigation funder – employment of funding equalisation formula as opposed to common fund orders – reasonableness of settlement sum
Legislation: Australian Securities and Investment Commission Act 2001 (Cth), s 12DA Corporations Act 2001 (Cth), ss 500(2), 1041H Fair Trading Act 1987 (NSW), s 42 Federal Court of Australia Act 1976 (Cth), Part IVA, ss 33J, 33V, 33X, 33ZF Trade Practices Act 1974 (Cth), s 52 (repealed)
Cases cited: Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (in Liq) [2015] FCA 811 Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers and Managers Appointed) (in Liq) (No 3) [2017] FCA 330 Caason Investments Pty Ltd v Cao (2015) 236 FCR 322 Dorajay v Aristocrat Leisure [2009] FCA 19 Earglow Pty Ltd v Newcrest Mining Ltd [2016] FCA 1433 Foley v Gay [2016] FCA 273 HFPS Pty Limited (Trustee) v Tamaya Resources Limited (In Liq) (No 1) [2016] FCA 442 HFPS Pty Limited (Trustee) v Tamaya Resources Limited (In Liq) (No 2) [2016] FCA 446 Mitic v OZ Minerals Limited (No 2) [2017] FCA 409 Modtech Engineering Pty Limited v GPT Management Holdings Limited [2013] FCA 626 P Dawson Nominees v Brookfield Multiplex (No 4) [2010] FCA 1029 Re HIH Insurance Ltd (in Liq) [2016] NSWSC 482 Stanford v DePuy International Ltd (No 6) [2016] FCA 1452 Tamaya Resources Limited (in liq) v Deloitte Touche Tohmatsu (A Firm), in the matter of Tamaya Resources Limited (in liq) [2015] FCA 1098 Tamaya Resources Limited (in liq) v Deloitte Touche Tohmatsu (A Firm) [2016] FCAFC 2
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