A prominent silk deliberately misled a cost consultant retained to provide an opinion on the barrister’s fees to a court overseeing a class action over the collapse of Banksia Securities, then joked about it with lawyer and litigation funder Mark Elliott, a judge has been told.
The funder behind the Banksia Securities class action has failed in a bid to have an outstanding case over legal fees and its commission sent to mediation, with a judge saying the issues for trial involve allegations against lawyers of serious misconduct not appropriate for closed-door negotiations.
Two barristers facing professional misconduct allegations in relation to the Banksia securities class action submitted more than $2.65 million in legal bills without documentation more than five years after the class action was filed and may have done so at the behest of funder Mark Elliott, a court has heard.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.
The hunt for the missing Blackberry of deceased class action lawyer and funder Mark Elliott is over, and the located phone will now be examined by IT experts to see if it can be searched for potential evidence to be used as part of an investigation of alleged professional misconduct by the legal team behind a class action against failed Banksia Securities.
A judge has directed solicitors for deceased lawyer and funder Mark Elliott to search for his missing mobile phone, which is wanted for potential evidence by a court-appointed contradictor investigating alleged professional misconduct on the part of the legal team behind a settled class action against failed Banksia Securities.
A judge overseeing a settled class action against failed Banksia Securities has rejected an application to limit a contradictor’s investigation of alleged professional misconduct on the part of the legal team and funder behind the case, saying he was satisfied there was a proper basis for the allegations.
A judge has removed the funder and law firm leading the Banksia Securities class action from their roles supervising a proposed settlement distribution scheme after the funder was accused of intimidation, a lack of experience and charging excessive costs.