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The funders of two class actions against a trustee of failed investment groups LKM Capital and GR Finance have agreed to cut their commission by 15 percentage points.
A trial is set to kick off at the end of July in two class actions brought on behalf of holders of debentures who allege they suffered losses due to Australian Executor Trustees’ mismanagement of debenture issuer Provident Capital.
The trustee for collapsed investment group LKM Capital has reached a settlement in a class action brought on behalf of hundreds of investors who sunk $63 million into the failed firm.