The son of the lawyer behind the Banksia Securities class action has effectively abandoned his appeal of a court judgment that found he knowingly and actively assisted his father in a fraudulent scheme to pocket almost $20 million in inflated fees and commission.
Courts stepped up their scrutiny of class action settlements in 2022, with judges grappling with difficult issues such as funding commissions in employment cases and whether settlements, even those worth hundreds of millions of dollars, were fair to group members.
A judge has rejected Shine Lawyers’ second bid to challenge a court order that it join forces with rival Banton Group in an investor class action Blue Sky Alternative Investments and auditor EY, saying the firm’s funder LCM was trying to “take the bat and ball and go home.” Federal Court Justice Michael Lee rejected…
A law firm has lost its bid to challenge a court order that it join forces with a competing firm in an investor class action against Blue Sky Alternative Investments and auditor EY.
Companies associated with the wife of disgraced senior barrister Norman O’Bryan can’t get a new judge to hear their battle against a third-party costs summons that would make them jointly liable for a $21.5 million judgment for investors in a class action over Banksia Securities’ collapse.
The judge whose ruling against the legal team behind the Banksia class action fraud helped redeem the battered reputation of the civil justice system may be asked to disqualify himself from the final fight in the drawn out case.
Dead or broke, the class action lawyers who schemed to defraud investors in failed Banksia Securities should not escape a $21 million judgment for damages and costs, a court has heard.
An appeals court has ordered a Perth silk to explain four bills in which entries marked ‘getting up’ accounted for over 36 days of work.
Companies associated with the wife of disgraced senior barrister Norman O’Bryan are stuck with the findings of last year’s excoriating judgment against the Banksia class action legal team despite their status as third parties, a court has heard.
The special purpose receiver acting for debenture holders of defunct Banksia Securities was right to reject a confidential settlement — believed to be for $10.6 million — offered by the disgraced lawyers behind a scandal-ridden class action, a court has found.