Burford Capital has previously indicated on this website that it was investigating a potential class action proceeding against Westpac Banking Corporation, with support and shareholder advocacy from leading Australian law firm Johnson Winter & Slattery (JWS).
We now confirm that pursuant to orders made by the Court on 12 May 2020, the class action as filed by JWS and funded by Burford Capital will not proceed.
A proceeding commenced by Mr Edmund Yong, who is represented by Phi Finney McDonald, with litigation funding from Woodsford Litigation Funding, will continue against Westpac.
We confirm that as the Yong Proceeding has been commenced on an open class basis, you may be a group member in the Yong Proceeding.
You may also wish to consider becoming a funded group member of the Yong Proceeding and/or being represented by Ben Phi of Phi Finney McDonald, who is the solicitor for Mr Yong as the Applicant in the Yong Proceeding. For further information about the Yong Proceeding, you should contact Phi Finney McDonald at www.phifinneymcdonald.com.