Court carves $770k from lawyers’ costs in GPT class action; applicant keeps $40k bonus from funder
By Hugh Atkin
On 15 November 2013, the Federal Court approved $8.5m for costs and disbursements of the GPT class action, some $770k less than had originally been claimed by Slater & Gordon. The litigation funder, Comprehensive Legal Funding (CLF), was granted leave to intervene on the application; however, its submissions were largely rejected.
As discussed in the Q3 issue of Class Action, Justice Gordon approved the settlement of the GPT class action in June this year, but was not satisfied that there was a proper basis to approve the $9,338,865 claimed in respect of Slater & Gordon’s fees and disbursements or the $53,530.85 claimed for the applicant’s (or rather its director’s) own time and expenses. Instead, her Honour referred those claims to the registry for assessment. Registrar Allaway reported back to the court on 30 August and Justice Gordon heard the renewed application for approval on 19 September.
The registrar rejected the ‘expense’ claim of $53,530.85 put forward by the applicant’s director, Mr Robinson, and reported that an amount of $10,000 would be fair and reasonable compensation for the time he had committed to the representative aspects of the proceeding. Mr Robinson did not seek to challenge that determination before Justice Gordon…
If you are registered and logged in to the site, click on the link below to read the rest of the King & Wood Mallesons briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Shanghai’s ground-breaking Pilot Free Trade Zone could mark the beginning of the long-awaited liberalisation of China’s legal services sector.
Hong Kong IPO activity is hotting up again, but UK legal stalwarts are looking over their shoulders as US rivals make up ground fast