On 13 December 2022, her Honour Justice Nichols ordered that the legal costs payable to JWS and Maurice Blackburn be calculated as a percentage of the amount of any award or settlement that may be recovered in the proceeding, rather than using time-based billing (group costs order or GCO). A copy of the orders made on 13 December 2022 are accessible below.
The Court ordered that the GCO percentage be 25% inclusive of GST, and any GCO payment is to be shared equally between JWS and Maurice Blackburn. Therefore, the Plaintiffs and all group members are guaranteed to share 75% of any award or settlement that may be recovered in the proceeding.
The GCO percentage is ‘subject to further order’. The Court can adjust the GCO percentage at any time over the course of the class action, including and up to the conclusion of the trial of any settlement.
Initially, the First Plaintiff, Ms Tracy-Ann Fuller (Fuller Plaintiff) was provided litigation funding by Balance Legal Capital I UK Ltd (Balance) to pay legal costs the prosecuting the Allianz Class Action. Subsequently, the Fuller Plaintiff elected to enter into an arrangement, and a further retainer with JWS that enabled her to make an application for a GCO (JWS Further Retainer).
The JWS Further Retainer provides that JWS will represent the Fuller Plaintiff in the Allianz Class Action, and will only be paid for its fees and expenses incurred in the Allianz Class Action in the event of settlement or an award of damages in the Plaintiffs’ favour (Successful Outcome).
As part of this arrangement, JWS has been issued with a limited recourse loan by Balance (Loan). This Loan allows JWS to provide the legal services and pay for any expenses over the course of the Allianz Class Action. Balance is not entitled to claim repayment of the Loan from JWS unless there is a Successful Outcome, and any amount payable to Balance cannot exceed any amount that is payable to JWS pursuant to the GCO. Balance has no contractual recourse against the Plaintiff or group members for repayment of its Loan with JWS.
Further details about this funding arrangement can be obtained from the Funding Information Summary Statement and the Class Action Summary Statement.
If there are any further changes to the funding arrangement, group members will be notified on this website and also through other means.