Crown money laundering risk class action (Crown II)

• Maurice Blackburn, on behalf of our client Greg Lieberman, filed a class action in the Supreme Court of Victoria against Crown Resorts Limited (ASX:CWN) which alleged that in the period from 11 December 2014 to 18 October 2020, Crown had inadequate systems and processes for ensuring compliance with its obligations under anti-money laundering laws, including as they applied to its VIP international business and engagement with overseas junket tour operators, and also had inadequate systems and processes for ensuring compliance with its casino taxation obligations.
• The class action follows explosive evidence by Crown directors and executives at the NSW Casino Inquiry in 2020 (and at subsequent Royal Commissions in Victoria and Western Australia), and a concession from Crown it was “more probable than not” that criminals had laundered money through bank accounts of its subsidiaries. At the AGM on 22 October 2020, chairperson Helen Coonan “unreservedly apologised” for Crown’s “governance and risk management failings”.
• The claim alleged that Crown engaged in misleading and deceptive conduct; breached its continuous disclosure obligations; and conducted its affairs contrary to the interests of members as a whole in the period.
• The class action was been launched following Crown’s ASX announcement early on 19 October 2020 that the anti-money laundering regulator, AUSTRAC, had initiated a formal enforcement investigation into Crown having identified potential non-compliance in relation to ongoing customer due diligence, and adopting, maintaining and complying with an anti-money laundering/counter-terrorism financing program. Following that announcement, there was a significant market response, with a decline in the Crown share price of over 8% on 19 October 2020.
• The class action sought to recover compensation from the company.

You are Group Member if you:

1. acquired an interest in fully paid ordinary shares in Crown Resorts Ltd (Crown and Crown Shares respectively) during the period between 11 December 2014 and 18 October 2020 (inclusive) (Relevant Period) (Acquiring Group Members) or held an interest in Crown Shares throughout the Relevant Period (Holding Group Members);
2. did not opt out of the proceedings; and
3. you do not fall within paragraph (b) of the description of ‘Group Members’ in para [1] of the 2FASOC.

If you registered your claim in the class action by 4pm (AEST) on 23 August 2024 (the Class Deadline), then you are a Registered Group Member. Until you hear from us, there is no action required by you, and you do not need to contact us about your registration.

If you did not register your claim in the class action by the Class Deadline, but you made an application before 4pm (AEST) on 14 July 2025, the Court approved your participation in the settlement administration. We have contacted you to confirm your participation. If you did not receive an email from us, you are not a Registered Group Member.

If you did not register your claim in the class action by the Class Deadline and you did not make an application seeking the Court’s permission to participate in the proposed settlement, then you will be bound by the terms of the settlement but will not be entitled to receive any monetary compensation from the settlement sum. The deadline for seeking the Court’s permission to participate in the proposed settlement has now passed.

If you did not register your claim in the class action by 4pm (AEST) on 23 August 2024 (the Class Deadline), but you made an application before 4pm (AEST) on 14 July 2025, the Court approved your participation in the settlement administration. We have contacted you to confirm your participation. If you did not receive an email from us, you are not a Registered Group Member.

If you did not register your claim in the class action by the Class Deadline and you did not make an application seeking the Court’s permission to participate in the proposed settlement, then you will be bound by the terms of the settlement but will not be entitled to receive any monetary compensation from the settlement sum. The deadline for seeking the Court’s permission to participate in the proposed settlement has now passed.

The deadline for registering your claim in the class action was 4pm (AEST) on 23 August 2024 (the Class Deadline).

If you did not register your claim in the class action by the Class Deadline and you did not make an application seeking the Court’s permission to participate in the proposed settlement, then you will be bound by the terms of the settlement but will not be entitled to receive any monetary compensation from the settlement sum. The deadline for seeking the Court’s permission to participate in the proposed settlement has now passed.

The SDS was approved by the Supreme Court of Victoria as part of settlement approval.

The SDS establishes the procedures for distributing the settlement sum to Registered Group Members.

A copy of the SDS is available here.

To request a copy of the Confidential Loss Assessment Formula, click here.

All Registered Group Members who participate in the settlement administration must:

1. Answer all questions truthfully, and to the best of your knowledge, accurately;
2. Ensure that your contact information is up to date and notify us of any changes; and
3. Respond to all communication requests from us (as Scheme Administrator) – including activities, emails, and text prompts – within the timeframes and/or due dates provided in the communication.

The Court made the following Orders:

• Crown will pay the sum of AU$72.5 million (Settlement Sum), inclusive of legal, administration and other costs to settle the Crown II Class Action;
• The following sums will be deducted from the Settlement Sum:
  • the Plaintiff Reimbursement Payment in the amount of $20,000;
  • the Group Costs Order in the amount of $ $19,937,500 (27.5% of $72.5 million) to be paid as follows:
    • $5.5 million from the first instalment (i.e. 27.5% of $20 million); 
    • $6.875 million from the second instalment (i.e. 27.5% of $25 million); and
    • $7.5625 million from the third instalment (i.e. 27.5% of $27.5 million); 
  • Administration Costs up to a maximum amount of $696,736.70 (inclusive of GST); and
  • $4,208 for the Plaintiff’s costs expert.

The residual Settlement Sum, after these deductions, will be divided amongst Registered Group Members in accordance with the approved Settlement Distribution Scheme. 

We are unable to provide Group Members with an estimate of the amount of money they will receive if found eligible to participate in the settlement. This is because any amount of compensation they receive will depend on a range of factors, including the:

• number of Group Members who registered to participate in the settlement;
• type of interest held in the relevant vehicle and
• date on which the interest in the relevant vehicle was acquired.

Please do not provide bank account details to us until we ask you to do so. Bank details will only be collected from Registered Group Members who are determined as entitled to receive a distribution, and these details will be collected via a secure method at the appropriate time. 

At this stage, we expect to make interim distributions in mid-2026, and the final distribution in mid-2027.

The Settlement Sum will be paid in instalments. The first instalment has been paid; the second instalment will be paid on 11 May 2026 and the final instalment on 10 May 2027. We can only make payments when the instalments have been received.

Under the SDS, you can notify us of an error, slip or omission between the Trade Data you have provided to us and is registered in the Claims Database, and the Trade Data that is set out in the Trade Check Notice that we send to you. If you notify us of an error, slip or omission and request an amendment, we will consider that request and notify you of our determination. Our determination is final and binding. 

Under the SDS, Registered Group Members are not permitted to register new holdings or additional trades for holdings registered in the Claims Database.

Under the SDS, the loss assessments and pro-rata distribution based on the loss assessments are final and binding, as they are calculated using a mathematical formula (which was approved by the Court) based on the trade data. This means that Registered Group Members are unable to review their loss assessment. In very limited circumstances, the Settlement Administrator may exercise its discretion and vary an assessment or distribution amount in the unlikely event that an abject error is identified.

To update your contact details in relation to the Crown 11 class action, please fill out the webform available here. Once you have submitted the form, you do not need to do anything else to update your details.

There will be several steps you will be requested to take in relation to the assessment of your claim/s, including (but not limited to) confirming trade data details, reviewing assessment notices, and providing bank account details. These processes will be carried out electronically, using a secure and specialist digital platform tailored for claim assessment and settlement distribution.

If you do not provide an email address, your claim/s may be delayed through each stage of the administration as all correspondence will need to be via hard copy mail. It also means that we have no other way to contact you if your hard copy mail is not delivered to you.

We strongly encourage you to provide an email address and a mobile number using the webform available here.