Pharm-a-Care Laboratories Pty Ltd v Commonwealth of Australia (No 10) [2011] FCA 1510

Pharm-a-Care Laboratories Pty Ltd v Commonwealth of Australia (No 10) [2011] FCA 1510

It is appropriate and necessary to amend clause 8.1 to permit the administrator to use Thomson Reuters exchange rates for the period from 28 April 2003 to 28 May 2003, as other sources lack rates for certain currencies relevant to claims under the scheme.

Jurisdiction
Australia
Judgment Date
19 December 2011
Procedural Posture
Application Under Settlement Distribution Scheme / Order Amending Clause of Loss Assessment Process
Outcome
Clause 8.1 of the Loss Assessment Process is amended pursuant to the Settlement Distribution Scheme.
Legal Topics
['settlement Distribution Scheme' 'amendment of Scheme Clause' 'currency Conversion']
['class Actions' 'scheme Administration'] ['settlement Distribution Scheme' 'amendment of Scheme Clause' 'currency Conversion']

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Procedural Posture

Application Under Settlement Distribution Scheme / Order Amending Clause of Loss Assessment Process

Legal Issues

  1. 1 ['Whether clause 8.1 of the Loss Assessment Process should be amended to allow use of Thomson Reuters exchange rates for specified period']

Ratio Decidendi

It is appropriate and necessary to amend clause 8.1 to permit the administrator to use Thomson Reuters exchange rates for the period from 28 April 2003 to 28 May 2003, as other sources lack rates for certain currencies relevant to claims under the scheme.

Court Disposition

Clause 8.1 of the Loss Assessment Process is amended pursuant to the Settlement Distribution Scheme.

Orders

  • ["Clause 8.1 of the Loss Assessment Process is amended by adding at the end: 'or in default by reference to the foreign currency exchange rates available at Thomson Reuters for the period from 28 April 2003 to 28 May 2003.'"]