No evidence was produced of a deferred fee arrangement between the law firm and funder backing franchise class actions against 7-Eleven, and the “unequivocal” denial by the solicitor running the cases should be accepted, a court has heard.
A lawyer for Forum Finance director Bill Papas has argued the alleged fraudster should be able to shield documents held by his former lawyer under a claim for legal professional privilege despite being a “fugitive” from contempt charges.
A marathon hearing of an application for court approval of a $98 million settlement in two 7-Eleven class actions has ended with a judge taking the rare step of signing off on the settlement amount while withholding approval of the legal costs and funding commission.
A judge has signed off on a $98 million settlement in two franchisee class actions against 7-Eleven, but has yet to reach a decision on $19.6 million in legal costs and a $25 million funding commission, which a court-appointed contradictor has urged him to reject.
A solicitor running two franchisee class actions against 7-Eleven “retaliated” against a group member who objected to a $98 million settlement and issued a late $6.5 million legal bill to benefit a litigation funder, a court has heard.
A $98 million settlement reached in two franchisee class actions against 7-Eleven is “appropriate” given the likelihood that the convenience store giant would have lost at trial, according to a contradictor who urged the court to reject a $25 million cut sought by the funder that backed the litigation.
Litigation funder Galactic should receive a $15 million commission for its work on two franchisee class actions against convenience store giant 7-Eleven, instead of the $25 million it has asked for, a court has heard.
The contradictor appointed to represent group members in an application for approval of a $98 million settlement of two franchisee class actions against 7-Eleven has raised “grave concerns” about criticism by the senior partner of the law firm running the proceedings.
Westpac has yet to commence extradition proceedings against Forum Finance director Bill Papas due to concerns that the alleged fraudster may face only contempt charges if he is brought back to Australia prematurely.
Evidence of anxiety felt by 7-Eleven franchisees leading class actions against the convenience store giant was relevant to whether the funder could earn a $25 million commission from the proceeds of a settlement, a court has heard.