Parties in an ongoing four-and-a-half year long investor class action against Fitch Ratings have agreed to a second round of mediation after a prior attempt was adjourned without success.
A Queensland Supreme Court judge has given the green light for a $30 million settlement of a liquidator’s case against failed financial services firm LM Investment Management, saying the result was appropriate and “a matter of some public interest”.
The former directors of collapsed mining company Termite Resources have appealed a ruling ordering them to pay $7 million in damages for allegedly breaching their duty by distributing more than $46 million to Termite’s parent company and failing to maintain a cash reserve of at least $10 million.
Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.
The consumer watchdog has brought legal action against online retailer Kogan Australia alleging one of its discount promotions duped customers.
A hearing scheduled for later this year in several class actions and an ACCC proceeding over allegations Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests has been postponed, despite cries of prejudice from the consumer regulator.
The Geelong Football Club has launched Federal Court proceedings against a promotional firm it claims passed itself off as the famous AFL club in order to procure payments from members.
Accounting giant PricewaterhouseCoopers is resisting a notice to produce audit files in a consolidated shareholder class action over the collapse of education and training company Vocation, arguing its partners face a real risk of criminal and civil penalty proceedings and are entited to claim privilege against self-incrimination.
The threat of civil penalties is growing for troubled financial services provider IOOF, after the prudential regulator used its new superannuation powers to issue directions to two IOOF entities for failing to comply with licence conditions.
The ACCC will not oppose Origin Energy’s sale of the Ironback coal seam gas project to joint venture partner Australia Pacific for $231 million, less than a third of what it paid for the project ten years ago.