It looks like the farce has ended around who would run the class action against AMP post the royal commission. (Five legal firm were competing for this).
Alas Shine did not win. The gong has gone to Maurice Blackburn teamed up with Slater and Gordon. Though apparently they were required to put up $5 million security in case costs are awarded to AMP.
It’s unfortunate though I don’t think we are out of pocket for this. There was an agreement with a litigation funder so Shine may even be paid for the work completed so far (not sure about this).
heres an article:
https://www.copyright link/business/banking-and-finance/no-win-no-fee-prevails-in-amp-class-action-face-off-20190523-p51qjd
Ann: FY19 Half Year Results Announcement Date, page-57
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