Waimoana Pty Ltd as Trustee for the Waimoana Superannuation Fund v Centuria Strategic Property Limited [2017] NSWSC 1091

Waimoana Pty Ltd as Trustee for the Waimoana Superannuation Fund v Centuria Strategic Property Limited [2017] NSWSC 1091

Having considered the risks of litigation, the advice of counsel and independent expert, the consent of all group members, and the terms and distribution methodology of the settlement, the settlement is fair, reasonable, and in the interest of group members and should be approved.

Source-derived case information.

Jurisdiction
Australia
Judgment Date
10 August 2017
Procedural Posture
Class Action / Representative Proceedings / Settlement Approval Application
Outcome
Settlement approved
Legal Topics
['class Actions' 'settlement Approval' 'misleading or Deceptive Conduct' 'fiduciary Duty' 'negligence']
['equity' 'civil Procedure'] ['class Actions' 'settlement Approval' 'misleading or Deceptive Conduct' 'fiduciary Duty' 'negligence']

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Procedural Posture

Class Action / Representative Proceedings / Settlement Approval Application

Legal Issues

  1. 1 ["Whether the proposed settlement is a fair and reasonable compromise of group members' claims under s 173 of the Civil Procedure Act 2005 (NSW)" 'Whether the methodology for distribution of the settlement sum is fair and reasonable']

Ratio Decidendi

Having considered the risks of litigation, the advice of counsel and independent expert, the consent of all group members, and the terms and distribution methodology of the settlement, the settlement is fair, reasonable, and in the interest of group members and should be approved.

Court Disposition

Settlement approved

Orders

  • ['Settlement approved pursuant to s 173 of the Civil Procedure Act 2005 (NSW)' 'Orders made in accordance with short minutes to effect settlement implementation']