An appeals court has set aside a notice issued to the tax office to produce documents to Kupang Resources as the mining company seeks to claw back millions of dollars allegedly siphoned off by former shadow director Phillip Grimaldi.
Two law firms are joining forces in the hopes of winning a contest of competing securities class actions against technology company Nuix over its $1.8 billion IPO.
A fight over the venue for a class action against KPMG by investors in the collapsed mining company Arrium has been taken to the High Court, and at the centre of the battle is a contingency fee order made in the case.
A judge has approved a 40 per cent group costs order for the law firm that’s running a class action against KPMG and former directors of collapsed mining company Arrium, the highest approved since the state began allowing lawyers to earn a cut of class action awards.
Real estate giant CBRE Group has won its appeal in a dispute with defunct fund manager City Pacific, which claimed the company negligently valued a Queensland marina at $27.3 million in 2006 and caused millions in losses.
KPMG has again been targeted in a class action by shareholders of a defunct mining company, this time over allegedly misleading statements made by CuDeco ahead of a $63 million capital raising in 2016 and before the company’s collapse in 2020.
Liquidators for ready-made meals producer Jewel of India have lost their bid to dodge public examination over their alleged poor handling of the business’ sale and failure to investigate potential claims against the Commonwealth Bank.
Technology company Nuix has been hit with a third shareholder class action over its troubled $1.8 billion float on the ASX, setting up what is likely to be the first beauty parade in the Supreme Court of Victoria since the state allowed class action lawyers to seek a cut of any settlement or judgment.
A funder that’s helping foot the bill in a class action against Arrium’s former directors and KPMG may withdraw support if the law firm that’s running it is not granted an order awarding it 40 per cent of any award or settlement.
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.