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A judge has granted the first-ever application to vary a contingency fee in a class action that has yet to reach settlement or judgment, but has warned his decision doesn't set a precedent for “routine variation” of group costs orders.
The law firm running a class action against Origin Energy has argued the case is “financially unviable” if it is stuck with a 30 per cent contingency fee ordered by the court, in the first-ever application to vary a group costs order.
A judge will appoint a contradictor to weigh in on a class action's novel bid to vary the rate of a group costs order, just two months after the court approved a lower rate than was sought by the firm that's running the case.
A judge has cut a 35 per cent contingency fee sought by a law firm running a shareholder class action against Origin Energy, even after a different judge approved the rate in a separate case by the firm.
National Australia Bank and its home loan lender subsidiary have been ordered to pay a $15.5 million penalty after admitting to mishandling hundreds of customer hardship applications.
The law firm behind a class action against Origin Energy wants a 35 per cent contingency fee, arguing that a string of defeats in shareholders cases has “accentuated the uncertainty and complexities” of proving loss.
Maurice Blackburn's costs in running a 'junk' insurance class action which settled for $34 million will not be fully covered under a 25 per cent group costs order, a court has heard.
Two months after reserving judgment, an appeals court has allowed the Worley class action to reopen the case to offer its take on the relevance of the Full Court's ruling last month in the CBA class actions.
Two Suncorp units and insurer TAL Life have agreed to pay $34 million to settle a class action over allegedly worthless add-on insurance sold at car dealerships.
A judge was too exacting in deciding the applicant in a shareholder class action against engineering services firm Worley suffered no loss from misleading guidance, an appeals court has heard.