Fisher v BT Funds Management Ltd (No 2) [2024] FCA 1340

Fisher v BT Funds Management Ltd (No 2) [2024] FCA 1340

The proposed discontinuance is not unfair or unreasonable or adverse to the interests of group members, as their rights are preserved and limitation periods recommence with opportunity for advice; order approving discontinuance and restarting limitation periods is appropriate.

Parties
First Applicant: Dannyalan Raymond Fisher; Second Applicant: Jonathan Fedson; Third Applicant: Roy Ferguson; First Respondent: BT Funds Management Ltd (ACN 002 916 458) in its capacity as trustee for the Retirement Wrap, BT Super for Life, BT Super and Asgard Independence Plan Division Two; Second Respondent: TAL Life Insurance Services Limited (ACN 003 149 157); Third Respondent: Westpac Securities Administration Limited (ACN 000 049 472)
Jurisdiction
Australia
Judgment Date
20 November 2024
Procedural Posture
Representative Proceeding / Discontinuance Approval and Final Confidentiality Orders
Outcome
Discontinuance approved; confidentiality orders granted.
Legal Topics
Representative Proceedings, Discontinuance, Class Actions, Limitation Periods, Confidentiality Orders
Practice and Procedure Commercial Law Corporations Law Insurance Law Superannuation Representative Proceedings Discontinuance Class Actions +2 more

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Parties

Dannyalan Raymond Fisher

First Applicant

Jonathan Fedson

Second Applicant

Roy Ferguson

Third Applicant

BT Funds Management Ltd (ACN 002 916 458) in its capacity as trustee for the Retirement Wrap, BT Super for Life, BT Super and Asgard Independence Plan Division Two

First Respondent

TAL Life Insurance Services Limited (ACN 003 149 157)

Second Respondent

Westpac Securities Administration Limited (ACN 000 049 472)

Third Respondent

Procedural Posture

Representative Proceeding / Discontinuance Approval and Final Confidentiality Orders

Legal Issues

  1. 1 Whether the proposed discontinuance should be approved under s 33V(1) of the Federal Court of Australia Act 1976 (Cth)
  2. 2 Whether discontinuance would be unfair or unreasonable or adverse to the interests of group members
  3. 3 Determination of when limitation periods recommence under s 33ZE of the Federal Court of Australia Act 1976 (Cth)

Ratio Decidendi

The proposed discontinuance is not unfair or unreasonable or adverse to the interests of group members, as their rights are preserved and limitation periods recommence with opportunity for advice; order approving discontinuance and restarting limitation periods is appropriate.

Court Disposition

Discontinuance approved; confidentiality orders granted.

Orders

  • Pursuant to s 33V(1) of the Federal Court of Australia Act, discontinuance approved on terms of Discontinuance Deed.
  • Applicants granted leave to discontinue the proceeding by filing a notice of discontinuance with no order as to costs save for specified orders.