Construction firm CIMIC has foreshadowed a fight over “obscure” new pleadings in a two year-old shareholder class action alleging the company failed to keep the market informed about issues with its Middle East operations.
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.
Rigby Cooke has prevailed in an appeal by a former client that challenged a ruling for the law firm over a $24.5 million East Melbourne development.
The Australian Stock Exchange is seeking $3.25 million in security for costs as it defends a $464 million lawsuit brought by fintech firm iSignthis, a move spurred on by the 2021 demerger of iSignthis and ISX Financial EU.
IOOF financial advice unit RI Advice has escaped a penalty in a test case alleging cybersecurity failures, but the firm must engage an IT security company and pay the corporate regulator’s legal costs.
IOOF unit RI Advice has agreed to settle novel proceedings brought by the Australian Securities and Investments Commission claiming it failed to protect its clients against cybersecurity risks.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
Two directors of mortgage aggregator Connective engaged in oppressive conduct towards a minority shareholder and Macquarie Bank was a “knowing participant” when it acquired $5 million worth of shares in the company, the NSW Supreme Court has found.
The ACCC got what it wanted when IVF providers Virtus Health and Healius terminated a proposed $45 million merger, but it wasn’t a win, a judge has said in mostly denying the regulator’s bid to recover the costs of its court challenge to the deal.
BHP Group has been granted special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.