Reilly v Australia and New Zealand Banking Group Limited (No 6) [2024] FCA 965

Reilly v Australia and New Zealand Banking Group Limited (No 6) [2024] FCA 965

The Court approved the payment of increased legal and administration costs from the settlement fund as they were reasonably and properly incurred, and varied previous orders accordingly. The Court made limited confidentiality orders only in respect of the Deloitte proposal document, finding insufficient reason for further suppression in the public interest of open justice.

Parties
First Applicant: Tracey Reilly; Second Applicant: Catherine Galli; First Respondent: Australia and New Zealand Banking Group Limited ACN 005 357 522; Second Respondent: Zurich Australia Limited ABN 92 000 010 195; Third Respondent: OnePath General Insurance Pty Limited ACN 072 892 365; Fourth Respondent: QBE Insurance (Australia) Limited ACN 003 191 035
Jurisdiction
Australia
Judgment Date
26 August 2024
Procedural Posture
Representative Proceeding / Application for Approval of Costs of Administering Settlement and Distribution to Group Members
Outcome
Orders made varying cost distributions; limited confidentiality order granted
Legal Topics
Settlement Approval, Costs Assessment, Settlement Distribution, Open Justice, Confidentiality Orders
Commercial Law Corporations Law Consumer Protection Settlement Approval Costs Assessment Settlement Distribution Open Justice Confidentiality Orders

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Parties

Tracey Reilly

First Applicant

Catherine Galli

Second Applicant

Australia and New Zealand Banking Group Limited ACN 005 357 522

First Respondent

Zurich Australia Limited ABN 92 000 010 195

Second Respondent

OnePath General Insurance Pty Limited ACN 072 892 365

Third Respondent

QBE Insurance (Australia) Limited ACN 003 191 035

Fourth Respondent

Procedural Posture

Representative Proceeding / Application for Approval of Costs of Administering Settlement and Distribution to Group Members

Legal Issues

  1. 1 Whether to approve additional legal and administration costs from the settlement fund
  2. 2 Whether to vary previous orders regarding legal cost distribution
  3. 3 Whether confidentiality orders should be imposed over specified documents

Ratio Decidendi

The Court approved the payment of increased legal and administration costs from the settlement fund as they were reasonably and properly incurred, and varied previous orders accordingly. The Court made limited confidentiality orders only in respect of the Deloitte proposal document, finding insufficient reason for further suppression in the public interest of open justice.

Court Disposition

Orders made varying cost distributions; limited confidentiality order granted

Orders

  • Order 7(a) of the orders of 23 June 2023 is amended to approve $7,824,349.01 for the applicants' legal costs and disbursements to 16 June 2023.
  • An additional $406,002.75 from the settlement is approved for applicants' legal costs and disbursements from 17 June 2023 relating to administration of the Settlement Distribution Scheme.