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Commonwealth Bank and other lenders of Arrium have filed for special leave to appeal to the High Court after losing their latest bid to make two directors liable for allegedly misleading them about loan drawdown notices ahead of the steel company's $2.8 billion collapse.
Uber and the applicants in class actions against the car service will head into mediation later this year, and only group members who sign up to join the cases will get a chance to share in the proceeds of any settlement that results from the talks.
In the latest skirmish over documents in two class actions, Uber has mostly won a bid to shield almost 150 documents on the grounds of privilege, with a judge finding the misconduct exception that has previously bedevilled the rideshare giant did not apply.
Customers of wealth manager Colonial First State were $10 million to $12 million better off without a litigation funder in a class action over the slow transfer of accounts to low cost MySuper funds, a judge has found.
Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company's directors on the hook for alleged misleading representations on loan drawdown notices ahead of its $2.8 billion collapse.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.
Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a “no brainer” that the company was in dire straits when its directors sought extra funds.
A judge has signed off on a $56.3 million settlement in a class action against wealth manager Colonial First State that will see Maurice Blackburn earn $14.5 million in costs, saying it was a good example of the class action regime in operation.