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Arrium lenders hit with extra costs after rejecting $10M settlement offers
Amy Munro 2022-01-07 11:27 am By Bianca Hrovat Sydney
A group of banks that failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse have been ordered to pay indemnity costs after a court found they rejected $10 million settlement offers three days into the trial.
Fairfax, reporter hit with $400,000 judgment over ‘derogatory and disparaging’ AFR articles
Banki Haddock Fiora 2022-01-07 10:09 pm By Bianca Hrovat Sydney
A Fairfax journalist and his employer have been ordered to pay $400,000 for making “baseless” accusations of fraud and unethical market manipulation against the co-founder of an Australian blockchain-based energy trading platform.
In class action appeal, Ford says it’s not on hook for damages for fixed cars
ACCC 2021-12-22 3:44 pm By Miklos Bolza Sydney
Ford has challenged its loss in a class action over its allegedly defective PowerShift transmissions, arguing group members who have had their cars repaired are not entitled to damages.
Insurer Vero may be dragged into combustible cladding class action
Class Actions 2021-12-22 2:40 pm By Cat Fredenburgh Melbourne
The applicant in a class action against Fairview Architectural over allegedly combustible cladding is add insurer Vero Insurance as a respondent, after revealing the cladding manufacturer may have $190 million in insurance to cover the class action's claims.
Minimum returns to group members a ‘wolf in sheep’s clothing’, funder tells Senate
Class Actions 2021-12-22 11:59 am By Miklos Bolza Sydney
A litigation funder has told a Senate committee that class action reforms that purport to protect group members by guaranteeing them at least 70 per cent of litigation proceeds is a "wolf in sheep's clothing" that will make it harder to bring claims.
MySuper class action back on track with appeals court victory
Allens 2021-12-21 4:22 pm By Miklos Bolza Sydney
The lead applicant in a superannuation class action against two IOOF units has successfully appealed a decision that barred the case from proceeding under a carveout in Victoria's Supreme Court Act forbidding class actions involving trust property.
Ford hit with penalty over Mustang Mach 1 performance claims
ACCC 2021-12-21 4:55 pm By Miklos Bolza Sydney
US car giant Ford Motor has copped a $53,000 penalty for allegedly misleading consumers about the performance features of its pricey Mustang Mach 1 sports car.
Judge ‘taken aback’ by Maddocks’ settlement stance in $30M negligence case
Alec Leopold 2021-12-20 6:25 pm By Bianca Hrovat Sydney
Law firm Maddocks has been ordered to pay more than $1.4 million in indemnity costs for “throwing good money after bad” in failing to consider a settlement offer in a negligence lawsuit over a client's botched deal with Woolworths. 
Judge criticises ASIC for treating orders in Westpac case like ‘traffic lights in Naples’
Allens 2021-12-20 1:48 pm By Bianca Hrovat Sydney
A judge has criticised the Australian Securities and Investments Commission for treating timetabling orders in its insider trading case against Westpac over a $16 billion interest rate swap as though they were “traffic lights in Naples”.
Forum liquidators sue to wind up entity that got $2.6M in Bill Papas ‘loans’
Allens 2021-12-20 11:24 am By Miklos Bolza Sydney
Forum Group's liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in "loans" from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.