The Federal Court has approved the $16 million settlement in a class action lawsuit against E&P, the parent company of Dixon Advisory & Superannuation Services (DASS), and former executives Alan Dixon and Christopher Brown.
The proceeding will be dismissed against E&P and the two executives, with a permanent stay against DASS. There was no admission of liability.
The settlement amount was first announced on 14 November 2023. DASS went into administration in January 2022. The Compensation Scheme of Last Resort is expected to soon start paying out claims on DASS.