Timbercorp Finance Pty Ltd (in Liquidation) v. Tomes
M98/2016 – Timbercorp Finance Pty Ltd (In Liquidation) v. Collins & Anor
Lower Court Judgment
1/06/2016 Supreme Court of Victoria (Court of Appeal) (Warren CJ, Santamaria and McLeish JJA)
Procedure – Group proceedings - Part 4A of the Supreme Court Act 1986 (Vic) – Managed investment schemes – Collapse of schemes – Group proceeding on behalf of investors in schemes – Defendants include lender to investors – Dismissal of group proceeding – opt out provisions – Subsequent recovery proceedings by lender against group memebers – Group members had not opted out of group proceeding – Group members raised individual claims and defences in recovery proceedings – Whether failure to opt out of group proceeding precluded group members from raising individual claims and defences in recovery proceedings.
Procedure – Group proceedings – Anshun estoppel – Test – Whether unreasonable of group members not to have raised individual claims and defences during group proceeding – Whether group members estopped from raising individual claims and defenced in subsequent proceedings by a reason of failure to raise individual claims and defences in the group proceedings – Port of Melbourne Authority v Anshun Pty Ltd (1981) 147 CLR 589.
Procedure – Group proceedings – Abuse of process – Failure of plaintiff of group members to raise individual claims in group proceedings – Whether raising individual claims and defences by group members in subsequent proceedings is oppressive or brings administration of justice into disrepute.
28/07/2016 Hearing (SLA, Brisbane)
01/08/2016 Notice of appeal
05/08/2016 Written submissions (Appellant)
05/08/2016 Chronology (Appellant)
19/08/2016 Written submissions (Respondent)