ACA gets Macmahon settlement across the line
In this judgment, Jagot J gave brief reasons for her approval of a settlement of this proceeding.
This matter is a shareholder class action on behalf of 170 class members (of whom 121 had signed funding agreements). The amount of the settlement was $6.7 million, which was to be distributed as follows:
- $2.695 million to the funder on account of costs and commission (representing an agreed reduction from the funder's full contractual entitlements)
- $1.6 million to the applicant's solicitors on account of unpaid costs (also representing an agreed reduction from their full contractual entitlements)
- $2.405 million to the class members (being approximately 36% of the gross settlement sum).
Hopkins v Macmahon Holdings Ltd  FCA 2061
- Federal Court of Australia, Jagot J
- Applicant's Solicitors: ACA Lawyers
- Respondent’s Solicitors: Herbert Smith Freehills
- Applicant's Funder: Harbour Fund II LP
Read more on Austlii: Hopkins v Macmahon Holdings Ltd  FCA 2061
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