The country’s biggest law firms were among the first in line to weigh in on changes to the class action regime proposed by the Australian Law Reform Commission, with one global firm cautioning against a weakening of continuous disclosure laws.
The litigation funder underwriting a class action against Myer will have to fork over another $950,000 in security ahead of what will be a rare shareholder trial starting next Wednesday, a court has ruled.
A judge has denied ASIC’s bid to appoint an interim receiver to preserve the assets of three financial services companies that advised clients to invest in complex derivatives, which ASIC is seeking to have wound up for alleged violations of the Corporations Act.
AMP has hit back against claims in the first of multiple class actions it faces, saying its practice of charging fees for no service did not warrant disclosure to shareholders. And despite sacking its GC for the extent of his exchanges with Clayton Utz over a report into the practice, the company now says the number of interactions was exaggerated.
The Federal Court has dismissed an application by tax lawyer Michael Binetter and his wife Suzanne Binetter to dip into over $3 million in frozen assets to fund a case over an alleged $120 million international tax evasion scheme.
UK-based building products giant Hill & Smith Holdings has launched a Federal Court case accusing an Australian company, whose directors are ex-employees, of selling road safety barriers that infringe one of its patents.
Investors in the failed Gold Coast finance group Octaviar are challenging a decision throwing out their class action, which alleged the Public Trustee of Queensland deserved some of the blame for their massive losses.
The Corner Hotel in Melbourne is suing McDonald’s, claiming a new hipster cafe that serves as a testing lab for the fast food giant violates its trade mark.
The maker of V Energy drinks has lost a fight to trademark the shade of green used on its cans and labels, with a judge agreeing with rival Coca-Cola that the colour was descriptive, not distinctive.
Clayton Utz, the law firm that faced scrutiny over the independence of a report it authored for AMP, is representing the wealth manager in ASIC’s case over so-called insurance churning.