Crow Legal

A judge overseeing a settled class action against failed Banksia Securities has rejected an application to limit a contradictor’s investigation of alleged professional misconduct on the part of the legal team and funder behind the case, saying he was satisfied there was a proper basis for the allegations.

A judge has removed the funder and law firm leading the Banksia Securities class action from their roles supervising a proposed settlement distribution scheme after the funder was accused of intimidation, a lack of experience and charging excessive costs.