‘Common fund’ order refused at an early stage of a class action brought under Pt IVA of the Federal Court of Australia Act 1976 (Cth)

In Blairgowrie Trading Ltd v Allco Finance Group Ltd (Receivers & Managers Appointed) (In Liq), Wigney J of the Federal Court of Australia refused to make a ‘common fund’ order at an early stage of a class action commenced pursuant to Pt IVA of the Federal Court of Australia Act 1976 (Cth). However, his Honour commented that there might be a case for parliament to reform the class action regime in Pt IVA to provide for some form of ‘common fund’ approach to deal with the reality of commercial litigation funding in class actions. Read about the case here.