Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Equity Financial Planners Pty Ltd v AMP Financial Planning Pty Ltd [2024] FCA 1036 File number(s): VID 498 of 2020
Judgment of: MCELWAINE J
Date of judgment: 6 September 2024
Catchwords: REPRESENTATIVE PROCEEDINGS– application for approval of a settlement pursuant to s 33V(1) of the Federal Court of Australia Act 1976 (FCA Act)- where 20% of group members object- the importance of objections and the protective function of the Court explained- whether proposed settlement is fair and reasonable-consideration of proposed deductions from settlement sum- ATE insurance premiums and internal expenses disallowed- whether suppression and non-publication orders are necessary to prevent prejudice to the administration of justice-duration of orders- whether orders until further order comply with the requirement to fix a definite period at s 37AJ of the FCA Act-limited confidentiality orders made with variable duration periods- settlement with adjustments approved
Legislation: Corporations Act 2001 (Cth) Federal Court of Australia act 1976 (Cth) ss 33J(1), 33V, 33X, 33Y(2), 33ZB, 37AF, 37AG(1)(a) Legal Profession Uniform Law, s 172 The Class Actions Practice Note (GPN-CA)
Cases cited: Asirifi-Otchere v Swan Insurance (Aust) Pty Ltd (2020) 385 ALR 625 Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers and Managers Appointed) (in liq) (No 3) (2017) 343ALR 476 BMW Australia Ltd v Brewster (2019) 269 CLR 574 Bolitho v Banksia Securities Ltd (No 6) [2019] VSC 653 Botsman v Bolitho (No 1) [2018] VSCA 278 Bradshaw v BSA Ltd (No 2) [2022] FCA 1440 Camilleri v The Trust Company (Nominees) Ltd [2015] FCA 1468 Dyczynski v Gibson (2020) 280 FCR 583 Equity Financial Planners Pty Ltd v AMP Financial Planning Pty Ltd [2023] FCA 741 Equity Financial Planners Pty Ltd v AMP Financial Planning Pty Ltd (No 2) [2023] FCA 1033 Ewok Pty Ltd (Trustee) v Wellard Ltd [2024] FCA 296 Fordham v Commonwealth Bank of Australia Ltd [2023] FCA 1106 Fowkes v Boston Scientific Corporation [2023] FCA 230 Galactic Seven Eleven Litigation Holdings LLC v Davaria (2024) 302 FCR 493 Ghee v BT Funds Management Ltd [2023] FCA 1553 Inabu Pty Ltd v Leighton Holdings Ltd [2014] FCA 622 Jenkins v Northern Territory of Australia (No 4) [2021] FCA 839 Kelly v Willmott Forests (in liq) (No 4) (2016) 335 ALR 439 Lee v Deputy Commissioner of Taxation (2023) 296 FCR 272 Luke v Aveo Group Ltd (No 3) [2023] FCA 1665 Motorola Solutions Inc v Hytera Communications Corporation Ltd (No 2) [2018] FCA 17 Scott v Scott [1913] AC 417 Timbercorp Finance Pty Ltd (in liq) v Collins (2016) 259 CLR 212 Webb v GetSwift Ltd (No 7) (2023) 414 ALR 500 Wellesley v Duke of Beaufort (1827) 2 Russ 1
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