Re Strahl - [2021] NZHC 3608

Date of Judgment

22 December 2021

Decision

Re Strahl (PDF 378 KB)

Summary

Following the collapse of the RAM Ponzi scheme, three representative plaintiffs brought a claim against ANZ Bank on behalf of 552 investors for knowing receipt, dishonest assistance and negligence. The claim was settled and the Litigation Committee sought the Court's approval of their methodology to distribute the settlement funds to the investors. The methodology involved classifying claimants as Class A or B or both in relation to the dishonest assistance claim. Three of the claimants put objections to the methodology before the Court. Held: The 75/25 per cent weightings given to the Class A and B dishonest assistance claims respectively was outside the available range and the weighting was adjusted to 67/33 per cent.