Accounting firm Grant Thornton has thrown off prior concerns and agreed to take on the dual role of scheme administrator of a confidential settlement by KPMG in the Discovery Metals shareholder class action and costs contradictor of Piper Alderman’s $3.5 million legal bill.
The settlement of the Discovery Metals investor class action against KPMG has experienced another setback, after scheme administrator Grant Thornton flagged a potential conflict of interest in acting as a costs contradictor over Piper Alderman’s controversial $3.5 million legal bill.
A judge has refused to approve Piper Alderman’s $3.5 million in legal fees charged for running a class action against KPMG, appointing Grant Thornton as contradictor and giving the auditor the ability to seek assistance from the court for any future disputes about the controversial bill.
Piper Alderman has urged a judge to excuse its “obviously accidental” breach of legal profession costs regulations in its Discovery Metals investor class action against KPMG, warning that group members could suffer detriment if its $3.5 million legal bill was not approved quickly.
A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.
A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.
Litigation funder Litigation Capital Management will snap up 30 percent of a confidential settlement amount that KPMG has fought to keep under wraps in a shareholder class action over a failed $830 million hostile takeover bid of mining firm Discovery Metals.
A judge has found the former director of Sydney-based insolvency practice CRS Warner Kugel is entitled to compensation after he was “ambushed” out of the firm in 2014.