Sims Metal class action funder to get no more than 25%, shareholders guaranteed at least half

Alexander Edwards 2019-07-05 11:31 pm By Christine Caulfield | Melbourne

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Noting the “significant and beneficial reduction” in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed off on an order capping the commission of the funders at 25 per cent of any net proceeds and setting a minimum 50 per cent of any recovery for group members.

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