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Two firms, one funder out after judge consolidates RCR Tomlinson class actions
Class Actions 2019-08-15 10:01 pm By Amelia Birnie Sydney

Law firm Quinn Emanuel Urquhart & Sullivan will push forward with an investor class action against failed engineering company RCR Tomlinson on its own, with two firms driving competing actions agreeing to step down after a judge forcibly consolidated all three proceedings.

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Cladding maker 3A Composites points finger at third parties in class action defence
Class Actions 2019-08-13 6:15 pm By Miklos Bolza Sydney

German cladding manufacturer 3A Composites has denied that its cladding is unsafe and caused class members loss and damage, instead pointing the finger at unknown third parties and arguing the Federal Court does not have jurisdiction to hear the matter.

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Judge warns RCR Tomlinson class actions to ‘get their act together’, says litigation funding ‘not rocket science’
Class Actions 2019-08-09 8:04 pm By Amelia Birnie Sydney

The plaintiffs in three competing RCR Tomlinson shareholder class actions have been told to “get their act together” by the judge who forcibly consolidated their proceedings, after the parties revealed they were as yet unable to agree on joint funding terms.

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NAB, ex-Walton Construction exec may face $70M suit by special purpose liquidator
ASIC 2019-08-07 3:30 pm By Miklos Bolza Sydney

National Australia Bank and the director of the collapsed Walton Construction face a possible lawsuit over more than $70 million in claims after the Federal Court gave the greenlight to the appointment of a special purpose liquidator to pursue the case.

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RCR Tomlinson class actions to be consolidated whether parties ‘agree or not’
Class Actions 2019-08-05 6:15 pm By Amelia Birnie Sydney

The judge overseeing three competing shareholder class actions brought against RCR Tomlinson has refused to entertain a beauty contest, instead deciding to consolidate the proceedings whether the parties “agree or not”.

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Judge dismisses ‘puzzling’ bid to boot FW Projects liquidators
Alan Shearer 2019-07-18 8:49 pm By Miklos Bolza Sydney

Two construction companies have lost what a court has called a “puzzling” bid to oust the liquidators of collapsed FW Projects amidst a legal battle in the NSW Supreme Court over the property developer’s remaining assets.

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Former Dick Smith execs may seek to vacate trial date if cross claims filed
Alan Shearer 2019-07-12 9:18 pm By Amelia Birnie Sydney

Two former executives of Dick Smith may seek to vacate an upcoming trial date for two class actions against the failed retailer, after recently being hit with cross claims by the company’s former auditor, Deloitte.

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Combustible cladding defendants may drag engineers, certifiers into class action
Class Actions 2019-07-08 8:36 pm By Amelia Birnie Sydney

German-based cladding manufacturer 3A Composites has foreshadowed potential cross claims against third party engineers and certifiers in one of two class actions brought over allegedly dangerous combustible cladding used in countless buildings across Australia.

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Dick Smith insurers face class action over IPO-related policy
Alan Shearer 2019-07-08 4:43 pm By Miklos Bolza Sydney

Allianz and a number of other insurers of Dick Smith are now facing a class action over the extent of coverage under an insurance policy for the collapsed electronics retailer’s initial public offering.

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Equititrust settlement with KPMG approved after no objections to funder taking all
Accounting 2019-06-28 9:04 pm By Amelia Birnie Sydney

A court has approved a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG, after not a single objection was raised by unitholders or creditors who won’t receive anything after the entire amount is paid to the funder.

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