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A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
ANZ's $47 million settlement of a class action over its consumer credit insurance has been given the nod by a judge, who has also approved recovery of the cost of after-the-event insurance held by the law firm running the case.
A judge will approve a $28 million settlement resolving a class action against Arnold Bloch Leibler over advice the law firm gave to Slater & Gordon ahead of a disastrous acquisition. A 28 per cent commission for the case's funder will also get the court's nod.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
Law firm Arnold Bloch Leibler will part with $28 million in its settlement with Slater & Gordon shareholders over advice ahead of the plaintiffs firm's disastrous $1.2 billion Quindell acquisition.
The administrators of pokie manufacturer Atlas Gaming, of which former Victoria Premier Jeff Kennett is a major shareholder, are seeking an extension of time to finalise the sale of the struggling business which owes more than $9.5 million to creditors, shareholders and employees.
An in-principle settlement has been reached with law firms Arnold Bloch Leibler and Slater & Gordon in a class action over Slater & Gordon's disastrous $1.2 billion Quindell acquisition.
Two class actions against Pitcher Partners and Arnold Bloch Leibler over advice given ahead of Slater & Gordon's disastrous $1.2 billion Quindell acquisition will proceed to trial next month after mediation between the parties failed to resolve the cases.
A judge has refused a bid by accounting firms Pitcher Partners and EY to access share trading data of unregistered group members in a securities class action over advice to Slater & Gordon, despite claims upcoming mediation will be "pointless" without the information.
Commonwealth Bank of Australia unit Colonial First State Investments is facing penalties after the Federal Court found it misled its customers about their rights and obligations relating to the MySuper reforms passed by the federal government in 2012.