Catchwords:

REPRESENTATIVE PROCEEDINGS – leave to appeal – permanent stay of proceedings – three overlapping open securities class actions against the same respondent – substantially the same claim and substantially the same causes of action – applicable principles – primary judge stayed two of the three proceedings – comparability of common fund orders proposed – whether common fund order could indirectly incorporate a contingency fee – scope and relevance of prohibition in s 183 of Legal Profession Uniform Law – no win/no fee model – comparison between no win/no fee model and external funder model – leave to appeal granted – appeal partly allowed – consequential orders