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The judge overseeing a class action against mineral sands producer Iluka Resources has slammed the submissions from both sides over a bid for an extra $2.6 million in security for costs, calling them “completely out of control” and "totally out of proportion”.
A shareholder class action against mineral sands producer Iluka Resources has locked in litigation funding, ending months of uncertainty about the fate of the proceedings.
The Australian Competition and Consumer Commission has failed in its challenge to a ruling that dismissed its bid-rigging case over mining exploration licences involving Cascade Coal and the sons of jailed Labor politician Eddie Obeid.
Shareholders of troubled sandalwood producer Quintis who are eligible group members in two consolidated class actions against the company can bet on which of the two cases will give them the best returns, if any, and the Federal Court has appointed an independent lawyer to help them make the choice.
The applicants in the Iluka Resources shareholder class action have been given a two month extension to provide a $1.25 million security for costs, after they managed to secure an in-principle deal with a new litigation funder.