The operator of a Vietnamese mine has dropped its Federal Court proceedings against WorleyParsons subsidiary Jacobs E&C over the enforcement of a $132 million arbitration award.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
A shareholder class action against mineral sands producer Iluka Resources has locked in litigation funding, ending months of uncertainty about the fate of the proceedings.
WorleyParsons has abandoned its mid-trial application to shut down a shareholder class action, amid uncertainty about whether the engineering company would be required to surrender its right to call reply evidence if it continued with its submission that it has no case to answer.
The Australian Competition and Consumer Commission has failed in its challenge to a ruling that dismissed its bid-rigging case over mining exploration licences involving Cascade Coal and the sons of jailed Labor politician Eddie Obeid.
Engineering services firm CIMIC Group has attacked the pleadings in a shareholder class action against it, saying needlessly convoluted paragraphs containing a “numerically vast number of contingencies” should be struck out.
Counsel for WorleyParsons has denied the engineering firm’s attempt to end a shareholder class action mid-trial would be the start of a “brave new world” of no-case bids in representative proceedings, saying this was a rare instance of a case with “no chance of success”.
Engineering firm WorleyParsons has told the Federal Court it will press forward with a no case application in an attempt to shut down a shareholder class action against it.
WorleyParsons may seek to shut down a shareholder class action against it due to an “insuperable obstacle” caused by last minute pleading amendments, the engineering firm told a court at the outset of a 21-day hearing.
Businessman Clive Palmer has lost an application to put a stop to a trial in a case brought by the liquidators of collapsed Queensland Nickel after arguing the proceeding was continuing largely to pay the litigation funder bankrolling the case.