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The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company's eleventh-hour revelation that it may have an extra $40 million in insurance.
A lower demand for legal services triggered by the coronavirus pandemic has forced law firm Gadens to reduce staff salaries by 20%.
Sandalwood producer Quintis has agreed to settle two class actions by shareholders, but the claims against company founder Frank Wilson and auditor EY will proceed for now.
The coronavirus has forged changes in the legal profession that will outlast the pandemic itself, leading to greater flexibility and efficiencies in an industry steeped in tradition and notably slow to adopt new technologies, sources told Lawyerly.
As law firms and funders scramble to keep up with COVID-19's impact on the legal landscape, some have gone above and beyond in creating new technological and service solutions for clients in these unprecedented times.
Law firm Gadens and partner Andrew Denehy have been hit with a lawsuit by the director of Modscape alleging a letter to the Victorian Building Authority questioning the financial probity of the director and the design company was false and malicious.
The judge overseeing the $212.5 million settlement in three toxic foam class actions against the Commonwealth of Australia has been told of at least one objection to the deal and has flagged difficulties taking submissions from opposing group members at an upcoming approval hearing.
Group members in two settled class actions against clothing retailer Surfstitch have been told the settlement amount available to them has plummeted amid a "very difficult retail environment".
Real estate company Oliver Hume is facing three lawsuits from overseas investors seeking to get back the $12 million they invested in a mortgage fund that provided funding to property developers.
A judge is expected to issue a temporary injunction Thursday barring Facebook and Instagram from blocking users who are customers of a Melbourne-based social media startup that has accused the companies of trying to quash competition.