Potential Class Action against Developers in the ACT
IMF is investigating a potential Class Action against certain property developers for the refund of GST included on purchases of new residential units in the Australian Capital Territory. You may be eligible to join the Class Action if:
- you have purchased a residential unit in the ACT directly from a developer (i.e. a new or off the plan purchase); and
- your purchase settled in the last 6 years; and
- your contract stated that GST was included on that transaction.
If you believe you meet the above criteria and you wish to register your interest in joining the proposed Class Action, please read this information page carefully first, and then click on the button below and follow the instructions to provide your details. You will then be sent a copy of the Registration Pack which must be kept strictly confidential.
Who is conducting the Class Action?
The Class Action will be funded by IMF Bentham Limited (ASX: IMF) (IMF
). IMF is Australia’s largest litigation funder.
The lawyers who will run the Class Action are Corrs Chambers Westgarth (Corrs
) in Sydney. Corrs are one of the leading firms in Australia for class action litigation.
How much will it cost to be part of the Class Action?
The Class Action will be run on a "no win – no fee
" basis, with all costs to be paid by IMF. This means that you will not have to pay any fees unless the claims are successfully resolved and you get financial compensation, in which case IMF will only be paid out of any compensation you recover.
If the Class Action is unsuccessful and the Court makes an adverse costs order, IMF will pay the other side’s costs and it will not cost you anything.
How to participate in the Class Action
You can register your interest in the proposed Class Action by completing the registration process on this website.
Registration is free and without obligation
, and should take you no more than 10 minutes to complete. You will be asked some basic questions about yourself and your property purchase. It may assist if you have details of your property to hand before starting, for example a copy of your sale contract.
Once you have registered your interest, you will be sent a confidential Registration Pack including a summary of the claim by Corrs, and the two documents you will need to sign in order to participate in the Class Action – (i) IMF’s Litigation Investigation, Management and Funding Agreement (IMF Agreement
), and (ii) Corrs’ Retainer and Costs Agreement (Corrs Retainer
You will have the opportunity to obtain independent legal advice before you sign the IMF Agreement and Corrs Retainer, and IMF encourages you to do so if you do not understand any aspect of those documents.
It is important to note that the Class Action will only proceed if sufficient people with a valid claim sign up to the IMF Agreements.
How do I find out more about the Class Action?
If you have any questions about the proposed Class Action, you can contact the IMF Client Liaison Team in our Perth office by email on [email protected]
or by calling 1800 016 464