Pharm-a-Care Laboratories Pty Ltd v Commonwealth of Australia (No 8) [2011] FCA 745

Pharm-a-Care Laboratories Pty Ltd v Commonwealth of Australia (No 8) [2011] FCA 745

Because the Commonwealth Bank did not retain exchange rates for Philippine pesos and Chinese renminbi for the relevant period, and the Administrator properly invoked the liberty to apply and clause 13.2, clause 8.1 should be varied to permit use of Australian Taxation Office and Reserve Bank of Australia exchange...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
01 July 2011
Procedural Posture
Representative Proceeding / Notice of Motion Seeking Variation of Provisions of the Settlement Distribution Scheme and Approval of Administration Costs
Outcome
Notice of Motion granted in part; clause 8.1 and Annexure A amended; $30,000 approved as Administration Costs; liberty reserved to adduce further evidence as to the balance of Administration Costs claimed.
Legal Topics
['representative Proceeding' 'settlement Distribution Scheme' 'loss Assessment Process' 'administration Costs' 'foreign Currency Conversion']
['practice and Procedure'] ['representative Proceeding' 'settlement Distribution Scheme' 'loss Assessment Process' 'administration Costs' 'foreign Currency Conversion']

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Procedural Posture

Representative Proceeding / Notice of Motion Seeking Variation of Provisions of the Settlement Distribution Scheme and Approval of Administration Costs

Legal Issues

  1. 1 ['Whether clause 8.1 of the Loss Assessment Process should be amended to permit alternative sources for foreign currency exchange rates where Commonwealth Bank rates were unavailable.' 'Whether the Court should approve Administration Costs claimed under clause 10.1.2 of the Settlement Distribution Scheme.' "Whether Annexure A to the Settlement Distribution Scheme should be amended to reflect Mr K Hung's change from paralegal to solicitor charge-out rate."]

Ratio Decidendi

Because the Commonwealth Bank did not retain exchange rates for Philippine pesos and Chinese renminbi for the relevant period, and the Administrator properly invoked the liberty to apply and clause 13.2, clause 8.1 should be varied to permit use of Australian Taxation Office and Reserve Bank of Australia exchange rate data. The Court was not satisfied on the material then provided that the whole of the claimed Administration Costs of $52,856.60 should be approved, but approved $30,000 pending any further evidence, and amended Annexure A to reflect Mr K Hung's changed status and charge-out rate.

Court Disposition

Notice of Motion granted in part; clause 8.1 and Annexure A amended; $30,000 approved as Administration Costs; liberty reserved to adduce further evidence as to the balance of Administration Costs claimed.

Orders

  • ['Clause 8.1 of the Loss Assessment Process pursuant to the Settlement Distribution Scheme is amended by adding at the end of that clause: "or in default by reference to the average foreign currency exchange rate available at the Australian Taxation Office for April 2003 and May 2003 or in default by reference to...