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Three years on from their debut, group costs orders -- which entitle law firms to a percentage of any recovery in class actions -- have raised a host of novel issues that are keeping lawyers and the court busy.
A judge has approved a group costs order with a tiered contingency fee that will guarantee group members at least 72.5 per cent of any returns in a shareholder class action accusing Crown Resorts of lax anti-money laundering compliance over a six-year period.
A judge has questioned a tiered contingency fee arrangement in a proposed group costs order by the law firm running a shareholder class action against Crown, asking whether the lower-end percentages were “meaningless”.