Endeavour River Pty Ltd v MG Responsible Entity Limited [2019] FCA 1719

Endeavour River Pty Ltd v MG Responsible Entity Limited [2019] FCA 1719

Court declined at this stage to approve settlement as proposed given preliminary view that the funding commission deduction of $13.47 million is not fair and reasonable based on available evidence; adjourned for further submissions and evidence on reasonableness of funding commission.

Parties
Applicant: Endeavour River Pty Ltd; First Respondent: MG Responsible Entity Limited; Second Respondent: Murray Goulburn Co-operative Co. Limited
Jurisdiction
Australia
Judgment Date
16 October 2019
Procedural Posture
Representative Proceeding / Interlocutory Application for Court Approval of Settlement Under S 33 V, Adjourned Pending Further Evidence and Submissions
Outcome
Application for court approval of settlement not approved at this stage; application adjourned for further evidence and submissions; confidentiality orders made; two group members deemed opted out.
Legal Topics
Representative Proceedings, Approval of Settlements, Litigation Funding, Costs, Settlement Distribution
Commercial Law Corporations Law Class Actions Representative Proceedings Approval of Settlements Litigation Funding Costs Settlement Distribution

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Parties

Endeavour River Pty Ltd

Applicant

MG Responsible Entity Limited

First Respondent

Murray Goulburn Co-operative Co. Limited

Second Respondent

Procedural Posture

Representative Proceeding / Interlocutory Application for Court Approval of Settlement Under S 33 V, Adjourned Pending Further Evidence and Submissions

Legal Issues

  1. 1 Whether proposed settlement is fair and reasonable for class members
  2. 2 Whether litigation funding commission is fair and reasonable
  3. 3 Court’s power to approve or vary agreed funding commissions

Ratio Decidendi

Court declined at this stage to approve settlement as proposed given preliminary view that the funding commission deduction of $13.47 million is not fair and reasonable based on available evidence; adjourned for further submissions and evidence on reasonableness of funding commission.

Court Disposition

Application for court approval of settlement not approved at this stage; application adjourned for further evidence and submissions; confidentiality orders made; two group members deemed opted out.

Orders

  • Schedules D, E and F of annexure EPC-4 to affidavit of Emma Oliva Pelka-Caven and confidential affidavit of Andrew Paull and its annexures treated as confidential and not disclosed except to permitted persons
  • Two group members named at paragraph 94 of Andrew Paull's confidential affidavit deemed to have opted out of the proceeding