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Settlement reached with 7-Eleven

 

On 4 August 2021, the Applicants and 7-Eleven agreed to settle the Class Actions for $98,000,000 (ninety-eight million dollars) and signed a Deed of Settlement and Release (the Settlement), subject to the Court approving settlement.

 

On 12 August 2021, the Applicants applied for Court-approval of the Settlement. Read more in the Court-ordered Settlement Notice and Further Settlement Notice

Read the Court’s orders made on 15 September 2021 in proceedings VID180/2018 and VID182/2018 and further orders made on 15 February 2022 in proceedings VID180/2018 and VID182/2018.

 

Read the settlement approval applications in proceedings VID180/2018 and VID182/2018, the amended settlement approval applications in proceedings VID180/2018 and VID182/2018, and the further amended settlement approval applications in proceedings VID180/2018 and VID182/2018.

 

On 31 March 2022, the Court approved the settlement of $98 million: [2022] FCA 331 and appointed Mr Steven Nicols of Nicols and Brien as administrator of the 7-Eleven Class Action Settlement Scheme in proceedings VID180/2018 and VID182/2018

 

Read the Court approved Settlement Scheme annexed to the Court’s orders made on 31 March 2022 in proceeding VID180/2018 and VID182/2019.

 

Registration deadline

 

On 8 March 2023, the Court made Distribution Orders in VID180/2018 and VID182/2018. Please click here to obtain a copy of the Settlement Distribution Orders.

 

Following the making of the Distribution Orders, on 13 March 2023 the Administrator and Levitt Robinson distributed a:

 

1. Settlement Confirmation Notice; and

2. Registration Form.

 

Please click here to obtain a copy of the Settlement Confirmation Notice and Registration Form.

 

The deadline for return of the completed registration form with supporting documents to the Administrator is 27 April 2023. Details about where, and how, to send your completed registration form to the Administrator are set out in the Settlement Confirmation Notice. You can visit Mr Steven Nicols’ website.

 

Eligibility to participate in the 7-Eleven Class Action Settlement Scheme

Eligible Group members in Class Action VID180/2018 are Franchisees who: at any time between 20 February 2012 and 19 February 2018 (the Relevant Period) were or commenced to be franchisee parties (Franchisee) to a standard-form franchise agreement (Franchise Agreement) with 7-Eleven Stores Pty Ltd (7-Eleven);

 

AND:

 

have not opted out of Class Action VID180/2018.

 

Eligible Group members in Class Action VID182/2018 are Nominated Directors and/or Guarantors as follows:

 

Nominated Directors who were or commenced to be the nominated directors identified in a Franchise Agreement with 7-Eleven at any time during the Relevant Period; or

 

Guarantors who provided indemnities, guarantees, mortgages or other securities (Guarantees) in respect of a Franchisee’s obligations under a Franchise Agreement or ANZ Bank Loan Contract entered into by a Franchisee during the Relevant Period, and which Guarantee was extant during the Relevant Period.

 

AND:

 

have not opted out of Class Action VID182/2018.