Compensation is being sought for the sudden price reduction and claw back announced on 5 May 2016 when Fonterra unilaterally reduced the milk prices for some farmers by around 70%. The conduct contributed to a crisis in the Australian Dairy industry, and caused “substantial detriment to dairy farm businesses” according to the Australian Competition and Consumer Commission (ACCC).
The case filed yesterday is for dairy farmers who Fonterra purchased milk from in 2015/2016. It will be run by lawfirms Adley Burstyner and Harwood Andrews, a 175 year old firm with strong rural and regional presence. The case will utilise information generated by the ACCC investigations.
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Application for common fund order refused on grounds of:
(a) Being premature given the unresolved status of debts claimed in the external administration of a defendant (being the same claims sought in the class action), and the potential for joinder of additional defendants to the action; and
(b) The terms proposed would allow the funder to take a success fee for debts recovered the administration, not just the class action it was funding.
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- Court and decision maker: Master Sanderson in the Supreme Court of Western Australia
- Citation and link: Minister For Environment -v- Eclipse Resources Pty Ltd (Administrator Appointed) [2017] WASC 318
The case is a class action to recover Aborigines or Torres Strait Islanders’ wages misappropriated between 1939 and 1972. Till this judgment the case was limited to persons who had signed a litigation funding agreement (known as a closed class).
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Nearly two years after a settlement scheme was devised, the plaintiff’s lawyer (as scheme administrator) requested four new types of costs. The Court granted two of the costs (tax and accounting fees), and denied two (expert costs and more generous administration costs).
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- Keep the money in a dedicated bank account
- Only apply the money consistently with earlier disclosure to Franchisees
- Only apply the money to reasonable costs (unless a majority of franchisees agree)
- Have an audit annually and, without being asked, provide it to Franchisees (unless 75% vote against that)
Fonterra would have difficulty getting a bid past first base as the ACCC would be looking at the overlap in milk collection area, causing competition issues for farmers looking to place their milk.
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Court considered: Plaintiff’s application to file revised expert report and make consequent pleading changes in a 5th amended statement of claim. Defendant vigorously opposed. Court allowed new report despite prejudice and delay and allowed some of the proposed amendments.
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"World prices move very, very quickly when supply and demand is relatively balanced."
Eight weeks before the 28 August 2017 trial of a shareholder class action against Treasury Wine Estates (TWE), the global wine company asked the Court to let witness Ms Le Drew give evidence via video link from America, where she lives. TWE argued that Ms Le Drew was really busy with her work in a new job plus her son’s first visit to her in about 9 months was to take place during the Trial.
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On 9 Jan 2017 a second class action was brought against Queensland Water Authorities for the January 2011 Brisbane floods. The second claim (the Hassid Case) was brought by Philip Hassid and Koula Hassid, as a class action, apparently because the first class action (the Rodriguez Case) abandoned pure economic loss claims in February 2016.
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Reports from China show Beingmate suffered a string of financial losses and faces accusations of alleged milk powder tampering.
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The exclusion of litigation funding arrangements and proof of debt arrangements from the National Credit Code has been extended for a further two years, until 12 July 2019.
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ABS analysis and State Library of Vic records show deregulation and supermarket discounting have shattered a century of stable milk pricing.
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Farmer Power president Chris Gleeson said the group would also call for a community boycott of $1-a-litre milk and wanted to run an advertising campaign countering the supermarkets’ price wars
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The Independent Brewers Association (IBA) has described today’s decision by the ACCC to take no further action in relation to tap contracts as a body blow for the Australian independent brewing industry.
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The judgment granted the plaintiff’s request for leave to file an amended application and statement of claim.
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The owners of the Great Northern Hotel, in Rathdowne St, Carlton, have accused Woodend’s Holgate Brewhouse of trying to force tap contracts on to the bar, jeopardising its proudly independent status.
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