Westpac unit BankSA is in talks to resolve a class action alleging it failed to detect the fraud of convicted Ponzi schemer Michael Samra.
The law firm running a shareholder class action against GetSwift confirmed it was looking at the events surrounding Tuesday’s trading halt by the Australian Stock Exchange but would not be amending its ongoing case against the logistics company in light of it.
Maurice Blackburn has partly prevailed in an appeal of a judge’s decision to put the brakes on its shareholder class action against BHP while greenlighting a competing case brought by Phi Finney McDonald, with an appeals court ordering the rival law firms to negotiate a deal to consolidate their litigation.
Maurice Blackburn’s funding model rejected by a judge overseeing a beauty parade of class actions against BHP appeared structured to incentivise the firm to push up its legal fees, an appeals court said Monday on the first day of a high stakes hearing challenging a decision to shut down two of three competing cases against the mining giant.
A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying the details were needed for a swift resolution of the case.
The Federal Court has approved a scheme of arrangement which will see investors take a 70 per cent stake in troubled fund manager Angas Securities, receiving a possible $52.2 million in shares and other assets.
Melbourne-based civic compliance firm SARB Management Group wants to put the brakes on a case brought by tech company Vehicle Monitoring Systems over a patented method for detecting vehicles, in a dispute it says was finalised in a settlement reached almost five years ago.
Oil exploration company Paltar Petroleum will be wound up after a judge rejected a proposed deed of company arrangement as containing “too much uncertainty”.
A judge has dismissed an application by the Australian Securities and Investments Commission to investigate two Sydney-based liquidators, saying the regulator had failed to prove its suspicions about the pair.
The Quintis shareholder class action trial could be delayed for almost two years, while ASIC runs its civil proceedings case against the founder of the sandalwood oil production company.