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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.
Whether judges can alter the terms of litigation funding agreements in class actions is a question that will remain unsettled for now, after litigation funder IMF Bentham chose to sidestep a lengthy, costly and risky challenge to the reach of the court's powers.
Construction firm Icon Co has rejected QBE Underwriting's argument that exclusion clauses in coverage for Sydney's Opal Tower meant the insurer did not have to indemnity it after a series of major cracks in the building led to the evacuation of thousands of residents on Christmas Eve last year.
A judge overseeing a settled class action against failed Banksia Securities has rejected an application to limit a contradictor's investigation of alleged professional misconduct on the part of the legal team and funder behind the case, saying he was satisfied there was a proper basis for the allegations.
A judge has removed the funder and law firm leading the Banksia Securities class action from their roles supervising a proposed settlement distribution scheme after the funder was accused of intimidation, a lack of experience and charging excessive costs.