Simons & Ors V Anz Bank New Zealand Limited & Anor [2024] Nzca 330 [19 July 2024]

The New Zealand Court of Appeal has issued a key decision in a claim against the ANZ Bank New Zealand and ASB Bank being supported by CASL and LPF Group. Among other things, the Court ruled that common fund orders (“CFOs”) are within the power of the New Zealand High Court, CFOs can be made at an early stage, and opt-out within a representative action was the appropriate way to ensure access to justice.