Webb v GetSwift Limited (No 7) [2023] FCA 90

Webb v GetSwift Limited (No 7) [2023] FCA 90

Given the respondents' insolvency and inability to meet greater judgment amounts, and having regard to the fairness of the settlement distribution and the applicant’s and funder’s approach to legal costs, the proposed settlement of $1 million is fair and reasonable in the interests of group members, including as between group members.

Jurisdiction
Australia
Judgment Date
02 February 2023
Procedural Posture
Representative Proceeding / Settlement Approval Under S 33 V of the Federal Court of Australia Act 1976 (cth)
Outcome
Settlement approved; proceeding dismissed with no order as to costs upon distributions
Legal Topics
['class Actions' 'securities Litigation' 'settlement Approval' 'misleading or Deceptive Conduct' 'continuous Disclosure Obligations']
['commercial Law' 'corporations Law' 'insolvency Law'] ['class Actions' 'securities Litigation' 'settlement Approval' 'misleading or Deceptive Conduct' 'continuous Disclosure Obligations']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Representative Proceeding / Settlement Approval Under S 33 V of the Federal Court of Australia Act 1976 (cth)

Legal Issues

  1. 1 ['Whether the proposed settlement is fair and reasonable in the interests of group members and as between group members pursuant to s 33V of the Federal Court of Australia Act 1976 (Cth)' "Impact of respondents' insolvency on settlement approval" 'Adequacy of notice and class closure procedures to group members']

Ratio Decidendi

Given the respondents' insolvency and inability to meet greater judgment amounts, and having regard to the fairness of the settlement distribution and the applicant’s and funder’s approach to legal costs, the proposed settlement of $1 million is fair and reasonable in the interests of group members, including as between group members.

Court Disposition

Settlement approved; proceeding dismissed with no order as to costs upon distributions

Orders

  • ['Material in Annexure A to be treated as confidential pursuant to ss 37AF and 37AG(1)(a) of the Federal Court of Australia Act 1976 (Cth)' 'Settlement of the proceeding upon the terms of the Settlement Deed and Settlement Distribution Scheme approved pursuant to ss 33V and 33ZF' 'Applicant authorised to enter into...