The government has agreed to acknowledge that climate change is a systemic risk that could affect the value of its bonds in order to resolve a class action on behalf of sovereign bond investors over its climate disclosures.
A judge who previously described as a “schemozzle” a law firm’s attempt to drop a class action over Telstra’s COVID-19 vaccine policy has refused a bid to keep secret Clive Palmer’s involvement as funder of the aborted litigation.
The judge asked to approve a settlement in a class action against retirement village provider Aveo has sent a shot across the bow to law firms seeking to make broad confidentiality claims over the settlement, saying such claims should be kept “to a minimum” in class actions.
A class action brought on behalf of sovereign bond investors over the disclosure of climate change risks has settled with the government on terms that don’t preclude further proceedings, a court has heard.
Wealth manager Colonial First State Investments has agreed to pay $100 million to resolve a consumer class action alleging it charged excessive fees on superannuation accounts, in one of the biggest class action settlements of the year so far.
A federal court judge has slammed Australia’s use of makeshift hotel detention centres as lacking “ordinary human decency”, but ruled they are not illegal in the case of a Kurdish refugee who was held for 14 months in two Melbourne hotels.
A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has flagged the possibility of appointing a contradictor to examine the litigation funder’s claimed cut of the settlement, which includes a deduction of over $1 million to cover the costs of after-the-event insurance.
A shareholder class action against KPMG and the directors of defunct mining company CuDeco is seeking insurance information and a limited number of documents from the directors ahead of mediation, to avoid a “train wreck” of a case, a court has heard.
As the spotlight on class action costs grows, litigation funders can expect increased judicial scrutiny of their attempts to pass on the cost of after-the-event insurance premiums to class action members.
Customers of wealth manager Colonial First State were $10 million to $12 million better off without a litigation funder in a class action over the slow transfer of accounts to low cost MySuper funds, a judge has found.