Notice to Group Members
As a current or former Westpac, St.George or BT Life Insurance customer who purchased insurance through a financial adviser employed by Westpac, you may have recently received a document in the post or by email entitled "Notice to Group Members". This is not a Notice from Westpac. This is a Notice which the Court has ordered to be sent to all potential Group Members. The Notice has been sent to you because you may be a Group Member.
What is this Notice?
As explained in section 5 of the Notice, the individual Applicants who have brought this Class Action have applied to the Federal Court for orders binding all Group Members to an arrangement concerning the funding of the costs of running the Class Action against Westpac. Those costs are being paid for by a litigation funding company named JustKapital Litigation Pty Ltd. The Notice explains that if the individual Applicants are successful with this application, then any settlement or judgment would, before being distributed to Group Members, be reduced by certain payments to JustKapital and Shine Lawyers.
What should I do if I have received a Notice?
Your options are set out in section 6 of the Notice. If you wish to oppose the Court approving the proposed funding terms, then you are required to lodge certain documents with the Court. If you do not wish to oppose the Court approving the proposed funding terms, then you are not required to do anything.
What if I have further questions?
If you have any questions about this Class Action, please email us at LCAWBC@westpac.com.au. Please note, however, that the Court's rules prevent us from providing you with any legal advice concerning the Notice or the Class Action, or from making any recommendation about what you should do in relation to the Notice or the Class Action generally. Should you require advice about those matters you should seek your own legal advice.
What is a Class Action?
A Class Action is an action that is brought by one or more persons ("Applicant") on his or her own behalf and on behalf of a group of people ("Group Members") against another person/s ("Respondent") where the Applicant and the Group Members may have similar claims against the Respondent. The Applicant in a Class Action does not need to seek the consent of Group Members to commence a Class Action on their behalf. Group Members who may not wish to participate in a Class Action will, at an appropriate stage of the proceeding, be given the opportunity to opt out of the action.