A settlement reached in a lawsuit by the liquidators of collapsed steel giant Arrium against 10 former company directors accused of insolvent trading has been approved by a judge, who noted that while the settlement amount was “substantial”, the deal involved a “substantial compromise”.
Global resources giant BHP Group is seeking special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
A judge has rejected a request that he approve a settlement with the lead applicants in a class action by investors in failed music streaming platform Guvera that would dispense with the class action without notice being sent to group members.
Motivated by greed, online educator Captain Cook College engaged in a system of unconscionable conduct by enrolling thousands of students who accrued $60 million in debt but never finished their courses, a court has found.
The Supreme Court of Western Australia has thrown out a lawsuit against billionaire mining heiress Angela Bennett and her brother Michal Wright over the estate of their father, mining magnate Peter Wright, despite finding the siblings breached their fiduciary duty and engaged in deceit and fraud.
Third-party liability insurers may become the latest parties to be dragged into a complex class action over alleged defects in Sydney’s Opal Tower, which has has spawned six cross-claims so far.
Westpac and French investment bank Societe Generale have obtained freezing orders over $263 million in assets in fraud cases brought against a Sydney software firm and its director, with a court hearing that other financial institutions may also be at risk from the alleged fraud.
Coffee capsule machine manufacturer Caffitaly has saved one of its coffee pod patents from a finding of invalidity, in a partially successful appeal of a ruling that stripped three of its patents from the Australian register.
After winning a three-way contest to lead a shareholder class action against construction giant Boral, Maurice Blackburn is seeking to stay a competing class action by Phi Finney McDonald that was allowed to continue as a closed class action.
Canadian trader Daniel Schlaepfer has suffered a loss in his $10 million defamation case against ASIC, with an appeals court tossing the lawsuit despite finding the regulator defamed him and his firm by accusing them of unlawful market manipulation.