ZMB Australia Pty Ltd v Warne [2011] FCAFC 65

CORPORATIONS - representative proceeding – approval of settlement – unregistered managed investment scheme - whether Part IVA of the Federal Court of Australia Act 1976 (Cth) applies to a proceeding brought against a respondent representing a group of persons – whether Court approval required pursuant to section 33V of the Federal Court of Australia Act 1976 (Cth) – whether settlement fair and reasonable and in the best interests of the investors represented by the respondent – whether settlement can be approved notwithstanding the investors have not been given notice in accordance with section 33X(4) of the Federal Court of Australia Act 1976(Cth).

Acted for the scheme investors' representative, leading Joanne Shepard of counsel, instructed by Arnold Bloch Liebler, Melbourne.