Pan v Royal National Capital Alliance Ltd [2020] FCA 1834

Pan v Royal National Capital Alliance Ltd [2020] FCA 1834

Because all group members have expressly consented to settlement through their solicitor and are represented, it is fair and reasonable and in the group's interest to approve the settlement; the Court's protective function is met in these circumstances.

Jurisdiction
Australia
Judgment Date
23 December 2020
Procedural Posture
Representative Proceedings (class Action) / Settlement Approval Application
Outcome
Settlement approved and proceedings dismissed (to take effect 60 days after order); no order as to costs; all previous costs' orders vacated.
Legal Topics
['representative Proceedings' 'class Actions' 'settlement Approval' 'dismissal of Proceedings']
['commercial Law' 'corporations' 'contract Law' 'banking' 'finance' 'insurance'] ['representative Proceedings' 'class Actions' 'settlement Approval' 'dismissal of Proceedings']

Case Brief

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Procedural Posture

Representative Proceedings (class Action) / Settlement Approval Application

Legal Issues

  1. 1 ['Whether settlement of class actions should be approved under section 33V of the Federal Court of Australia Act 1976 (Cth)' 'Whether persons affected and bound by the settlement should be identified under section 33ZB' 'Whether confidentiality orders should be made for the settlement']

Ratio Decidendi

Because all group members have expressly consented to settlement through their solicitor and are represented, it is fair and reasonable and in the group's interest to approve the settlement; the Court's protective function is met in these circumstances.

Court Disposition

Settlement approved and proceedings dismissed (to take effect 60 days after order); no order as to costs; all previous costs' orders vacated.

Orders

  • ['Settlement approved on the terms in the Settlement Deed and Settlement Distribution Scheme.' 'Persons affected and bound are the parties to the Settlement Deed and Group Members.' 'Proceedings dismissed with no order as to costs and all previous costs’ orders vacated, dismissal takes effect 60 days after order.']