Haslam v Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218) [2007] FCA 897

Haslam v Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218) [2007] FCA 897

The Court was satisfied on the evidence that the proposed settlement is fair and reasonable and in the best interests of the group members, as the group members received adequate notice, had opportunity to object, and no objections were received. The settlement is therefore approved.

Parties
First Applicant: Mary Ann Haslam; Second Applicant: Bernard Dickens; Third Applicant: Phyllis Leslie Dickens; Fourth Applicant: Delia Lemon; Fifth Applicant: Estelle Sylvia Smith; Sixth Applicant: Elaine Mavis Gainsford; First Respondent: Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218); Second Respondent: MFL Property Holdings Pty Ltd (Administrators Appointed) (ACN 111 105 125); Third Respondent: Stephen O'Neill; Fourth Respondent: Gary Dennis O'Neill; Fifth Respondent: Jolanta Simone Olszewski; Sixth Respondent: Permanent Mortgages Pty Ltd (ACN 097 176 362); Seventh Respondent: Perpetual Trustee Company Limited (ACN 000 001 007); Eighth Respondent: Latrobe Investment Services Australia Pty Limited (ACN 007 416 211); Ninth Respondent: Cash Flow King Pty Ltd (ACN 108 343 853); Tenth Respondent: Patrick O'Donnell; Eleventh Respondent: Bill Kafaltis; Twelfth Respondent: Jason Taleb; Thirteenth Respondent: Kerrili Pty Ltd (ACN 097 980 222) (trading as Diakou Faigen (A Firm)); Fourteenth Respondent: Registrar of Titles; Fifteenth Respondent: MKM Capital Pty Ltd (ACN 111 776 464); Sixteenth Respondent: Recorder of Titles; Seventeenth Respondent: The Commissioner of State Revenue of Victoria; Eighteenth Respondent: The Commissioner of State Revenue of Tasmania
Jurisdiction
Australia
Judgment Date
08 June 2007
Procedural Posture
Representative Proceeding / Approval of Settlement With One Respondent (thirteenth Respondent)
Outcome
Settlement with the thirteenth respondent approved
Legal Topics
Representative Proceedings, Court Approval of Settlement, Confidentiality of Settlement, Notice to Group Members
Civil Procedure Representative Proceedings Court Approval of Settlement Confidentiality of Settlement Notice to Group Members

Case Brief

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Parties

Mary Ann Haslam

First Applicant

Bernard Dickens

Second Applicant

Phyllis Leslie Dickens

Third Applicant

Delia Lemon

Fourth Applicant

Estelle Sylvia Smith

Fifth Applicant

Elaine Mavis Gainsford

Sixth Applicant

Money for Living (Aust) Pty Ltd (Administrators Appointed) (ACN 107 611 218)

First Respondent

MFL Property Holdings Pty Ltd (Administrators Appointed) (ACN 111 105 125)

Second Respondent

Stephen O'Neill

Third Respondent

Gary Dennis O'Neill

Fourth Respondent

Jolanta Simone Olszewski

Fifth Respondent

Permanent Mortgages Pty Ltd (ACN 097 176 362)

Sixth Respondent

Perpetual Trustee Company Limited (ACN 000 001 007)

Seventh Respondent

Latrobe Investment Services Australia Pty Limited (ACN 007 416 211)

Eighth Respondent

Cash Flow King Pty Ltd (ACN 108 343 853)

Ninth Respondent

Patrick O'Donnell

Tenth Respondent

Bill Kafaltis

Eleventh Respondent

Jason Taleb

Twelfth Respondent

Kerrili Pty Ltd (ACN 097 980 222) (trading as Diakou Faigen (A Firm))

Thirteenth Respondent

Registrar of Titles

Fourteenth Respondent

MKM Capital Pty Ltd (ACN 111 776 464)

Fifteenth Respondent

Recorder of Titles

Sixteenth Respondent

The Commissioner of State Revenue of Victoria

Seventeenth Respondent

The Commissioner of State Revenue of Tasmania

Eighteenth Respondent

Procedural Posture

Representative Proceeding / Approval of Settlement With One Respondent (thirteenth Respondent)

Legal Issues

  1. 1 Whether the proposed settlement with the thirteenth respondent should be approved under s 33V of the Federal Court of Australia Act 1976 (Cth)
  2. 2 Whether the notice and procedural requirements for settlement approval were met
  3. 3 Whether the settlement is fair, reasonable and in the interests of group members

Ratio Decidendi

The Court was satisfied on the evidence that the proposed settlement is fair and reasonable and in the best interests of the group members, as the group members received adequate notice, had opportunity to object, and no objections were received. The settlement is therefore approved.

Court Disposition

Settlement with the thirteenth respondent approved

Orders

  • The settlement of the representative proceeding in the terms of the Deed of Settlement between the applicants and the thirteenth respondent dated 19 April 2007 is approved by the Court.
  • The applicants have authority of the specified group members to enter into and give effect to the Deed of Settlement.