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The plaintiff in a flex commissions class action against ANZ has asked the court to approve a $85 million settlement, including a 24.5 per cent group costs order, citing the “considerable risk” involved in running the case.
The litigation funder behind a class action against engineering firm CIMIC took a $4.7 million hit to its commission from a settlement after a dispute with the plaintiff's law firm, according to a decision published Friday.
A judge has approved a $45.25 million settlement in a shareholder class action against engineering firm CIMIC over disclosures relating to its Middle East business.
The funder that backed a shareholder class action against engineering firm CIMIC that settled for $45.25 million will take a cut to its 25 per cent commission, but wants the court to find the commission would otherwise have been reasonable.
Westpac has agreed to fork over $130 million to settle a class action over payment of flexible commissions to car dealers, a practice that was banned by the corporate regulator seven years ago.
Munich Reinsurance has been given the OK to bring additional claims in its $696 million lawsuit, which accuses AMP of misleading or deceptive conduct over a quota share agreement.
Group members will receive no less than 50 per cent of a $42.25 million settlement reached in a shareholder class action against engineering firm CIMIC.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
CIMIC has agreed to pay $45.25 million to settle a shareholder class action alleging it failed to properly inform the market about its investment in a Middle East company.
Westpac and two other lenders have won their cases alleging they were scammed out of $500 million in loans to the Forum group of companies.