Group proceedings settlements binding on group members

In brief - Supreme Court case confirms "Anshun estoppel" principle

The Supreme Court of Victoria's recent approval of the settlement in Clarke (as trustee of the Clarke Family Trust) & Ors v Great Southern Finance Pty Ltd (Receivers and Managers Appointed) (in liquidation) & Ors [2014] VSC 516 ("Great Southern group proceedings") further confirms that group members to a class action who choose not to opt out, risk their opportunity and mechanisms to protect their rights and interests.

Application for removal from the group deemed inappropriate

In a recent judgment in the Great Southern group proceedings (Clarke (as trustee of the Clarke Family Trust) & Ors v Great Southern Finance Pty Ltd (Receivers and Managers Appointed) (in liquidation) & Ors [2014] VSC 569), prior to the approval of the settlement in the Great Southern group proceeding, Justice Judd of the Supreme Court of Victoria ruled on applications by group members to cease to be group members,