Clime Capital Limited v UGL Pty Limited [2020] FCA 66

FEDERAL COURT OF AUSTRALIA

Clime Capital Limited v UGL Pty Limited [2020] FCA 66 File number: VID 1390 of 2017

Judge: ANASTASSIOU J

Date of judgment: 5 February 2020

Catchwords: REPRESENTATIVE PROCEEDINGS – application for approval of settlement pursuant to s 33V of the Federal Court of Australia Act 1976 (Cth) – where common fund order previously made under s 33ZF of the Act – whether fund equalisation order available under s 33V of the Act – whether proposed settlement fair and reasonable – funding commission percentage – claim of applicants for reimbursement payments – approval granted

Legislation: Corporations Act 2001 (Cth), s 674(2) Class Actions Practice Note (GPN-CA) Federal Court of Australia Act 1976 (Cth), ss 33V, 33X, 33Y, and 33ZF

Cases cited: Australian Securities and Investments Commission v Richards [2013] FCAFC 89 BMW Australia Ltd v Brewster; Westpac Banking Corporation v Lenthall [2019] HCA 45 Bradgate (Trustee) v Ashley Services Group Limited (No 2) [2019] FCA 1210 Earglow Pty Ltd v Newcrest Mining Limited [2016] FCA 1433 Harrison v Sandhurst Trustees Ltd [2011] FCA 541 HFSP Pty Ltd (Trustee) v Tamaya Resources Ltd (in liq) (No 3) [2017] FCA 650 Kuterba v Sistex Medical Limited (No 3) [2019] FCA 1374 Liverpool City Council v McGraw-Hill Financial, Inc (now known as S&P Global Inc) [2018] FCA 1289 McKenzie v Cash Converters International Ltd (No 3) [2019] FCA 10 Melbourne City Investments Pty Ltd v UGL Limited [2015] VSC 540 Modtech Engineering Pty Limited v GPT Management Holdings Limited [2013] FCA 626 P Dawson Nominees Pty Ltd v Brookfield Multiplex Limited (No 4) [2010] FCA 1029