A judge has questioned the “independent skill and judgment” applied to the pleading in a third class action filed against International Capital Markets over risky derivative products, amid a “hot contest as to carriage and forum”.
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Full Court awards $24.5M commission to 7-Eleven class action funder
The Full Federal Court has found the court’s recently-affirmed power to make common fund orders at settlement means the litigation funder that backed two class actions against 7-Eleven is entitled to a $24.5 million cut from a $98 million settlement, in a decision that slammed the parties for a settlement approval process that “went off the rails”, costing group members $2.5 million.