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).

Case details

Hopkins v Macmahon Holdings Ltd [2018] 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 [2018] FCA 2061

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