Federal Court of Australia
Federal Court of Australia J & J Richards Super Pty Ltd v Linchpin Capital Group Limited (Settlement Approval) [2023] FCA 656 File number: NSD 939 of 2020
Judgment of: LEE J
Date of judgment: 19 June 2023
Catchwords: REPRESENTATIVE PROCEEDINGS – application for settlement approval pursuant to s 33V of the Federal Court of Australia Act 1976 (Cth) – where all group members represented by same solicitors – where proposed settlement resolves part of the justiciable controversy – content of Court's protective and supervisory role under Pt IVA – authority of representative applicant to deal with group member claims – fairness and reasonableness of settlement proposal and settlement distribution scheme – bifurcation of question of approval of settlement and distribution – where proposed settlement said to extinguish rights of insurer under Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW) – where inappropriate for Court to second-guess advice given to group members as to fairness and reasonableness of settlement – settlement approved
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) s 12DA Corporations Act 2001 (Cth) ss 601FC, 601FD, 1013D(1)(f), 1013E, 1017B, 1022B, 1041H, 1323 Federal Court of Australia Act 1976 (Cth) ss 33C, 33V, 33V(1), 33V(2), 33X(4), 33X(6), 33ZB, 33ZF, 37AF(1)(b), 37AG(1)(a) Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW) ss 4(3), 7 Trusts Act 1973 (Qld)
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