Shareholders in a class action against Arrium and KPMG are fighting an $8 million security for costs order sought by former directors of the failed steel giant, who say they should not be forced to defend the case “on a shoestring.”
A judge has approved a $52 million settlement is six class actions against car makers for allegedly selling cars fitted with deadly Takata airbags, under which individuals group members will get around $600 after $31.7 million in expenses is deducted.
Two former executives at Fuji Xerox’s Australian unit have settled a lawsuit over their roles in a $450 million accounting scandal that has also ensnared auditor Ernst & Young.
Fired underwriter Greg Brereton has been granted an extension to respond to lawsuits targeting Insurance Australia Group over trade credit policies covering $4.6 billion in loans issued by collapsed Greensill Capital.
A government-approved plan to build a waste facility in western Tasmania has been parked, after environmental campaigners won a judgment declaring the federal government’s approval of the proposed tailings storage facility was invalid.
PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.
ANZ is optimistic its proposed $4.9 billion acquisition of insurer Suncorp’s banking unit will be cleared by the competition regulator, and is counting on the public benefits of the merger to win approval.
German pharmaceutical giant Bayer, which is facing a legal bid by generic drug maker Sandoz to invalidate patents covering blood clot drug Xarelto, is seeking to amend one of the patents in dispute.
Clayton Utz has picked up a new partner specialising in digital transformation from Ashurst to join the firm’s public sector practice in Canberra.
Norton Rose Fulbright has lost the co-head of its energy, infrastructure and resources team in Australia to King & Wood Mallesons, just months after the group’s other leader jumped ship to another Big Six firm.