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Directors of steel producer Arrium continued to borrow money from "vulnerable" lenders in the months prior to the company's $2.8 billion collapse and "bled cash" despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.
A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were "misleading" and "understated" the risks of joining the class.
A judge will not let proceedings brought by ASIC against four former Linchpin Capital directors drag on, slamming a "vague" excuse from one of the directors, who awaits word from his insurers on whether his defence costs will be covered, that London is still in a state of "total confusion" due to COVID-19.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
The directors of steel giant Arrium, which collapsed owing $4 billion in debts, should have known earlier that the company was in a "liquidity crisis" and was trading while insolvent, liquidators for the company allege.
London is in a "complete state of chaos" and no amount of pressing by law firm Moray & Agnew has produced an answer from underwriters about the extent of his insurance coverage, former Linchpin Capital Group CEO Peter Daly has said in a three-paragraph defence to disqualification proceedings by the corporate regulator.
An Australian maker of neoprene handbags sold at high-end retailers has appealed its loss in a copyright dispute over alleged knockoffs, contesting a judge's finding that its trendy tote is not a work of artistic craftsmanship.
While there was no shortage of pain and challenges for law firms as the coronavirus raged across the globe last year, a number of big firms also felt the sting of litigation from disgruntled clients, partners and employees.
Facebook and its subsidiary Instagram have lost a bid to shut down a lawsuit brought by an Australian social media startup, with a judge finding the digital giants relinquished their right to move the dispute to California.
The state of South Australia is facing a possible class action over a restrictive six-day lockdown that was lifted after two days when it was discovered that a worker connected to a coronavirus outbreak in Adelaide had lied to contact tracers about the time he spent at a pizza shop.