Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (No 2) [2016] FCA 1310

Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq) (No 2) [2016] FCA 1310

Settlement of the applicants' claims against the Second Respondent is fair and reasonable, benefits all group members, and continued pursuit would be disadvantageous. Therefore, settlement approval is granted and notice to group members is dispensed with.

Jurisdiction
Australia
Judgment Date
20 October 2016
Procedural Posture
Representative Proceeding / Interlocutory Application for Settlement Approval
Outcome
Settlement approved; claims against the Second Respondent discontinued; related cross-claims discontinued; costs orders vacated; part of security for costs retained, remainder repaid; amendments to pleadings permitted; notice to group members dispensed with.
Legal Topics
['class Action Settlement Approval' 'discontinuance of Claims' 'accessorial Liability' 'notice to Group Members' 'costs Orders' 'security for Costs']
['corporations Law' 'civil Procedure'] ['class Action Settlement Approval' 'discontinuance of Claims' 'accessorial Liability' 'notice to Group Members' 'costs Orders' 'security for Costs']

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Procedural Posture

Representative Proceeding / Interlocutory Application for Settlement Approval

Legal Issues

  1. 1 ['Whether the proposed settlement with the Second Respondent should be approved under s 33V of the Federal Court of Australia Act 1976 (Cth)' 'Whether notice to group members under s 33X(4) should be dispensed with']

Ratio Decidendi

Settlement of the applicants' claims against the Second Respondent is fair and reasonable, benefits all group members, and continued pursuit would be disadvantageous. Therefore, settlement approval is granted and notice to group members is dispensed with.

Court Disposition

Settlement approved; claims against the Second Respondent discontinued; related cross-claims discontinued; costs orders vacated; part of security for costs retained, remainder repaid; amendments to pleadings permitted; notice to group members dispensed with.

Orders

  • ["Applicants' interlocutory application determined despite no notice to group members" 'Settlement between Applicants and Second Respondent approved' 'Applicants authorised to give effect to the Deed of Settlement and Release' 'Applicants granted leave to discontinue against Second Respondent, with no orders as to...