Peter Collinson

AMP super members are set to receive $60 million in a class action stemming from the banking royal commission, with the average payout being under $100, a judge has heard. 

Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.

A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.

A judge has approved a $110 million settlement in a class action against BHP over the collapse of a tailings dam, and has OK'd fees and commission reducing the sum by 50 per cent, despite concerns the costs were excessive.

A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".

A collapsed developer and its builder have failed again in their dispute against a financier over the Pentridge Village development in Melbourne, with an appeals court taking a critical view of years of delays.

The funder and law firms that ran a shareholder class action against BHP over the collapse of the company's Samarco Fundão dam in Brazil will seek approval for deductions that will see half of the $110 million settlement go to group members. 

The firm wants a bigger slice of any recovery in its case against Paladin Energy, but its clearer funding arrangement and realistic litigation budget give it the edge over a rival class action outfit, a judge has found.

A contest to run a class action against Paladin Energy played out Monday, with two law firms each positioning themselves as the better bet, one for their funding and resources, the other for their contingency fee rate.

AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.