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The Murray Goulburn class action run by Elliott Legal bears similarities to the Banksia class action, a case rife with scandal and offered up by opponents as proof of the problems with the class action regime. The leading lawyers were the same in both cases. In one they have abandoned any claim to their fees and have walked away from their careers. In the other they walked away with $5 million.
The judge overseeing a settled class action against Murray Goulburn, which earned millions of dollars for the same legal team accused of serious misconduct in the running of the Banksia class action, invited the parties last month to reopen the case, concerned he had been misled when approving the lawyers' costs.
A judge has signed off on a $37.5 million Murray Goulburn class action settlement but slashed $2 million in legal costs sought by Mark Elliott's law firm, which is running the case.
Litigation funder IMF Bentham has thrown in the towel in a battle over its cut of a $42 million settlement in a class action against dairy cooperative Murray Goulburn, accepting the Federal Court's proposed 25 per cent commission rate after initially seeking 32 per cent.
Two months after rejecting the deal because the litigation funder's cut appeared excessive, a judge has approved a $42 million class action settlement with Murray Goulburn while the funder keeps up the fight over its commission.
The litigation funder financing the second of two recently settled shareholder class actions against Murray Goulburn will face similar scrutiny over its commission as the funder behind the first action.
Two petitioners challenging the election of Treasurer Josh Frydenberg and embattled Liberal MP Gladys Liu have subpoenaed the Australian Broadcasting Corporation and Sky News for interview footage in front of the Chinese language posters at the heart of the dispute.