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A law firm has secured more funds to cover the cost of distributing a $20 million settlement reached in a class action against telco contractor BSA, but not as much as it wanted, with a judge saying the firm would have been stuck with its initial estimate if the administration gig had been put out to tender.
Although carefully reasoned, last week's landmark judgment by the Full Federal Court finding power to grant contingency fees to class action solicitors has placed the question of statutory authority to award settlement common fund orders on more unsteady ground than before, experts say.
The Federal Court is set to become a more attractive forum for class actions now that the Full Court has confirmed it has power to make orders granting solicitors a contingency fee from any settlement or judgment in a group proceeding.
Lawyers are allowed to take a cut from a class action settlement or judgment under a so-called solicitors’ common fund order, the Full Federal Court has ruled, saying they are a permissive use of the court’s power.
Counsel for Worley in a nine-year-old shareholder class action that is set for another Full Court appeal has foreshadowed a possible recusal application against the judges who heard the first appeal.
BHP wants to appeal a decision giving a class action the OK to fix what a judge accepted was an "inadvertent mistake" that resulted in a ruling -- itself the subject of an appeal -- which limited the group member definition.
The judge overseeing a six-year-old class action against BHP over the collapse of a Brazilian dam has allowed the applicant to retroactively amend the group definition, accepting that a pleading mistake was contrary to the intended class membership in the case.
The judge overseeing a consumer class action against wealth manager Colonial First State Investments has given the green light to a $100 million settlement, but questioned a $23.1 million cut to funder Augusta under a “strange” funding agreement.
Hearing arguments Tuesday on whether lawyers should be permitted to earn contingency fees in Federal Court class actions, judges on a Full Court bench appeared to lean in favour of allowing so-called solicitors' common fund orders, rejecting claims they are "unjust".
While it was unfair for a judge to pick Gilbert + Tobin to run a class action against Jaguar Land Rover on the condition that it lower its funding rate, the judge was entitled to consider the law firm’s experience in a similar case against Toyota, an appeals court has said in its reasons.