I’m included in one… but I have the choice to opt out.
I need to understand all this before I decide.
Law and court stuff scares me.

In a class action you are represented by a Law Firm ...

some people may be called as witnesses - not all.

Most is done on a No win No fee.

Nope.  Probably wouldn't either if the story on A Current Affair the other night is typical of these class actions.

Of the $57.5 million settlement from ANZ, the law firm that ran the case - Phi Finney McDonald, pocketed $34.5 million, leaving thousands of victims to share the remaining $23 million which meant they only received around $10 - one only got a bit over $3.   

It's always the law firm that makes a massive profit from these class actions. 

That’s the thing… going to federal court in Melbourne for goodness knows how long the case gets dragged out.
If the case wins then the solicitors against this big firm take their pay out of the winnings and the rest gets divided up amongst the rest of us… and I have no idea how many of “us” there are.

If the case loses, we pay nothing to the solicitors acting on our behalf, but I ask… who pays for the other side (the big firm and their lawyers) that are based in USA and Australia

I have until end of January 2025 for an opt out.

I will ponder and decide by mid Jan but will contact the lawyers for the class action to find out more.

I’m not sure of mentioning who or what it is about publicly… but once the situation is finished … however long it takes…. I will then say something.

I suspect that if you opt out, you will likely end up with even less.

We bought a car many years ago from Honda and accepted their finance offer as it was lower interest than the banks.   We paid extra for an extension of warranty and some other charges.    About 4 years ago we received an invitation to join a class action against Honda and Macquarie Bank.  Once again, it was no win-no fee and a written guarantee that we would not be liable for anything if the case folded.   Last year, we received a cheque for 1500 as our share of the payout.  I don’t think it even went to court!

freediver wrote on Dec 5^th, 2024 at 12:40pm:

I suspect that if you opt out, you will likely end up with even less.

All I want to make sure about… is if the global giant wins… will we have the class action group be liable for any payments for their legal costs?
I have read it’s no win non pay… of solicitors for the class action.

I just decided to look it up and it’s online, so not something to hush about. Except maybe certain details.
There’s 3,500 of us in this class action.

I think this means what I think it means.
An answer to what I was asking before RE: costs if case is lost
I’ve just blotted our name of lawyers acting for the class.
They do a no win no pay, and they agree to pay other side’s costs.
Wow they must be pretty confident to do that?

---

Sounds OK. It may be a good idea to slowly read every detail to make double sure. You could even get a solicitor to read it through.

chimera wrote on Dec 5^th, 2024 at 2:25pm:

Sounds OK. It may be a good idea to slowly read every detail to make double sure. You could even get a solicitor to read it through.

What if the legal firm goes bankrupt from an enormous case cost?

Could you be liable then for the fees?

Yes if you agree to make a contract to donate cash to the struggling company and its lawyers. Or the judge may insist that you support them (and your bankrupt lawyer), for justice for lawyers.

chimera wrote on Dec 5^th, 2024 at 3:19pm:

Yes if you agree to make a contract to donate cash to the struggling company and its lawyers. Or the judge may insist that you support them (and your bankrupt lawyer), for justice for lawyers.

The first rule about lawyers is to remember -
they are not your friends -
they are after money and they are ruthless.

In Australia they are allowed to go after your house to get paid
even if they were your lawyer that you hired to defend yourself.

Aquarius wrote on Dec 4^th, 2024 at 8:51pm:

Nope.  Probably wouldn't either if the story on A Current Affair the other night is typical of these class actions. Of the $57.5 million settlement from ANZ, the law firm that ran the case - Phi Finney McDonald, pocketed $34.5 million, leaving thousands of victims to share the remaining $23 million which meant they only received around $10 - one only got a bit over $3.    It's always the law firm that makes a massive profit from these class actions.

Yes, the lawyers are not there to help you

What would Aussie, the ex lawyer have to say about this?🤔

Jasin wrote on Dec 5^th, 2024 at 4:30pm:

What would Aussie, the ex lawyer have to say about this?🤔

You read my mind… that’s what I was wondering earlier too!
I might take this link to him as he may not have seen it.

Sophia wrote on Dec 5^th, 2024 at 5:37pm:

Jasin wrote on Dec 5th, 2024 at 4:30pm: What would Aussie, the ex lawyer have to say about this?🤔 You read my mind… that’s what I was wondering earlier too! I might take this link to him as he may not have seen it.

Stay in.  You will not be personally liable for an adverse costs order.  But, don't expect anything near what your actual loss is.

"Your" lawyer and the likely litigation funder will take a huge chunk out and you will get a pittance.

When they get a chance to ensure they get their fees, 'your' Lawyers will settle for crap, and again you will get nothing.

If I were Dictator, I would ban class actions as they are now.

Now, they are just a cash cow for 'your' Lawyer and the litigation funder.

I give you the recent settlement in the Taxi v Uber class action conducted by Maurice Blackburn and the funder of that action, the name of which escapes me now.

We, Taxi Licence Owners, will get SFA compared to our actual loss.  The lawyers get around $M40 and the funder gets around $M80.

My loss per Licence is about $500,000.00.  I'll be lucky to get $35,000.00 of that per Licence.

Stay in.  But, you will get SFA.

Well there you go Sophia.
And good onya Aussie, for posting up.

Aussie wrote on Dec 5^th, 2024 at 6:16pm:

Sophia wrote on Dec 5th, 2024 at 5:37pm: Jasin wrote on Dec 5th, 2024 at 4:30pm: What would Aussie, the ex lawyer have to say about this?🤔 You read my mind… that’s what I was wondering earlier too! I might take this link to him as he may not have seen it. Stay in.  You will not be personally liable for an adverse costs order.  But, don't expect anything near what your actual loss is. "Your" lawyer and the likely litigation funder will take a huge chunk out and you will get a pittance. When they get a chance to ensure they get their fees, 'your' Lawyers will settle for crap, and again you will get nothing. If I were Dictator, I would ban class actions as they are now. Now, they are just a cash cow for 'your' Lawyer and the litigation funder. I give you the recent settlement in the Taxi v Uber class action conducted by Maurice Blackburn and the funder of that action, the name of which escapes me now. We, Taxi Licence Owners, will get SFA compared to our actual loss.  The lawyers get around $M40 and the funder gets around $M80. My loss per Licence is about $500,000.00.  I'll be lucky to get $35,000.00 of that per Licence. Stay in.  But, you will get SFA.

You were ripped off - it shows there is no justice in Australia.

It's called Capitalism

Jasin wrote on Dec 5^th, 2024 at 7:19pm:

It's called Capitalism

More complicated than that.

What was the point of the Govt selling taxi licenses when Uber just turned up
and went ahead without any licenses?

Deutschland über alles -

"Deutschland, Deutschland über alles, über alles in der Welt"
('Germany, Germany above all, above all in the world')

Class action, my year 10 maths teacher Ms White, I reckon came close to getting some action.

We had a demented maths teacher and one boy brought an air rifle and was shooting at the blackboard next to the teacher's face as he wrote on it.  I think the teacher was aware something wasn't right.

Jasin wrote on Dec 5^th, 2024 at 6:31pm:

Well there you go Sophia. And good onya Aussie, for posting up.

Yes, thank you Aussie.
I don’t think much will come out of it either….not even sure how long it could drag on for.
They’re are overseas class action groups also. I kind of read a rumour that this big mob could declare themselves bankrupt.

Anyway, I will stay in, and I won’t expect much if anything.
It’s a whole new learning curve … that’s how I will see this.