Tate v Westpac Banking Corporation (No 2) [2020] FCA 1374

Tate v Westpac Banking Corporation (No 2) [2020] FCA 1374

The discontinuance of the proceeding is fair and reasonable having regard to the interests of all class members, as it does not extinguish their rights, does not impose costs liabilities, and is justified by loss of litigation funding and low prospects of success since the ASIC Appeal judgment.

Source-derived case information.

Parties
First Applicant: Ian John Tate; Second Applicant: Michelle Mary Tate; Respondent: Westpac Banking Corporation ACN 007 457 141
Jurisdiction
Australia
Judgment Date
22 September 2020
Procedural Posture
Representative Proceedings (class Action) / Application for Approval of Discontinuance
Outcome
Discontinuance approved; proceeding discontinued by consent; declaration that discontinuance does not affect rights to pursue claims in another proceeding.
Legal Topics
Discontinuance of Representative Proceedings, Approval Under S 33 V Federal Court of Australia Act, Responsible Lending Obligations, Class Action Procedure, Litigation Funding
Practice and Procedure Consumer Protection Commercial Law Discontinuance of Representative Proceedings Approval Under S 33 V Federal Court of Australia Act Responsible Lending Obligations Class Action Procedure Litigation Funding

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Parties

Ian John Tate

First Applicant

Michelle Mary Tate

Second Applicant

Westpac Banking Corporation ACN 007 457 141

Respondent

Procedural Posture

Representative Proceedings (class Action) / Application for Approval of Discontinuance

Legal Issues

  1. 1 Whether discontinuance of class action proceeding should be approved under s 33V(1) of the Federal Court of Australia Act
  2. 2 Whether discontinuance is fair and reasonable having regard to interests of all class members

Ratio Decidendi

The discontinuance of the proceeding is fair and reasonable having regard to the interests of all class members, as it does not extinguish their rights, does not impose costs liabilities, and is justified by loss of litigation funding and low prospects of success since the ASIC Appeal judgment.

Court Disposition

Discontinuance approved; proceeding discontinued by consent; declaration that discontinuance does not affect rights to pursue claims in another proceeding.

Orders

  • Discontinuance of proceeding approved pursuant to s 33V(1) of Federal Court of Australia Act.
  • Proceeding discontinued by consent.