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Judge warns funder against turning Hays class action settlement into a ‘circus’
Class Actions 2024-03-08 9:35 pm By Sam Matthews

A judge will allow the erstwhile funder of a settled underpayments class action against recruitment agency Hays to argue it should be allowed to recover against group members who signed a funding agreement several years ago, but said the claim was “not worth spending a vast amount of money on” and warned the funder against turning the case into a “circus”.

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7-Eleven class action funder’s $12M cut seemed ‘plainly too little’, says appeals judge
Appeals 2024-02-23 4:21 pm By Cindy Cameronne

A judge hearing an appeal by a funder over its cut of a $98 million settlement in franchisee class actions against 7-Eleven has said the $12 million commission was “plainly too little”, and questioned if the class action judge had been “stuck” on the idea that common fund orders are bad. 

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Rio Tinto shielded by war sanctions from wrath of Russian aluminium producer
Energy & Natural Resources 2024-02-01 4:17 pm By Cindy Cameronne

Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.

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Full Court finally sets date for 7-Eleven class action funder’s CFO fight
Class Actions 2023-12-05 11:45 pm By Christine Caulfield

The date has been set for a hearing in the second case to test the argument that judges lack power to make a common fund order when a class action settles, and the litigation funder challenging the argument can expect a sympathetic ear.

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7-Eleven class action funder disputes ‘strong reasons’ for denying CFO
Appeals 2023-06-21 4:07 pm By Christine Caulfield

A litigation funder whose cut of a $98 million settlement in franchise class actions against 7-Eleven was slashed in half is challenging a judge’s finding that “strong reasons” exist to refuse it a common fund order.

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Opal Tower class action funder’s appeal of cuts to commission falls flat
Class Actions 2023-05-12 11:13 pm By Cat Fredenburgh

An appeals court has shot down funder Augusta’s challenge to a decision that cut its commission in the Opal Tower class action, putting funders on notice that they will have to marshal compelling evidence to win approval for their returns from an increasingly watchful court.

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Opal Tower class members could do ‘simple arithmetic’, funder says in appeal of cuts to commission
Appeals 2023-03-14 10:25 pm By Sam Matthews

The funder in the Opal Tower class action has appealed a judge’s decision to slash its commission for not disclosing proposed deductions from the settlement sum as percentages, telling the Full Court that group members could do “simple arithmetic”.

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High Court won’t hear appeal by payday lenders Cigno, BHF
High Court 2022-12-15 8:43 pm By Cat Fredenburgh

The High Court won’t hear an appeal by payday loan providers Cigna and BHF seeking to challenge a Full Court judgment that found they can’t dodge the obligations contained in the National Credit Code through their lending model.

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Judge slashes Opal Tower funder’s cut of class action settlement
Class Actions 2022-11-28 11:35 pm By Cindy Cameronne

A judge has approved a confidential settlement in a class action on behalf of 383 apartment owners in Sydney’s Opal Tower but slashed the amount sought by the funder.

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Payday lender resists ASIC push for injunction, citing fear of contempt
Financial Services 2022-11-28 11:02 pm By Cindy Cameronne

Payday lenders BHF Solutions and Cigno are fighting ASIC’s bid for an injunction barring them from breaching consumer credit laws, with BHF claiming it should not be exposed to contempt.

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