Federal Court approves BT Super $30m settlement

The Australian Federal Court has approved a $29.95 million class action settlement against Westpac after two of its subsidiaries allegedly failed to manage conflicts of interest when investing BT Super member money in a cash option. $15.45 million of the settlement will be distributed to group members, $9.6 million will go to litigation funder Therium, while about $4.7 million will go to law firm Slater & Gordon.

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