The Australian Securities and Investments Commission wants to investigate the conduct of a Worrells partner in relation to the winding up of Members Alliance Group, a group of property investment companies whose 2016 collapse stripped creditors of over $40 million and left its director facing fraud charges.
Litigation funder Augusta Ventures has brought its promised appeal of a groundbreaking ruling that put it on the hook for paying security for costs in an employment class action over the classification of casual mine workers.
A litigation funder is planning to challenge a landmark Federal Court ruling that found for the first time that funders can be ordered to pay security for costs in Fair Work class actions.
A judge has dismissed a professional negligence claim against a personal injury law firm, finding no prospect of success for a former client who alleged the firm “coerced” him into settlement of a workplace sexual assault case so they could receive their costs.
Two former Dick Smith directors targeted by dual class actions have expanded their case against Deloitte over the retailer’s 2016 collapse, saying if the company was found liable for shareholder losses then the auditor should be blamed for its shoddy work on the company’s financial statements during its float three years earlier.
A landmark ruling has found judges have the power to order security against litigation funders backing Fair Work class actions, in a decision that could change the landscape of representative proceedings.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
The liquidators of failed construction company Walton Construction are seeking to reinstate and then wind up a unit of restructuring advisory firm Mawson Group, which was hired to extricate Walton from $18.8 million in debts with National Australia Bank prior to its collapse.
German-based 3A Composites has issued an ultimatum in the high-stakes combustible cladding class action against it, saying it will try to shut down the matter as a representative proceeding if group member registration and opt out are not initiated.
3A Composites has slammed the pleadings in a class action against it over allegedly combustible cladding, questioning whether the stated common issues are actually common to all group members.