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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.
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.
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".
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.
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.
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.
The litigation funder bankrolling a class action on behalf of 383 apartment owners in Sydney’s troubled Opal Tower is seeking a 26 per cent commission totalling $13.2 million of the confidential settlement sum, a court has heard.
A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.