A judge has approved a common fund application in a class action against two IAG entities over add-on insurance said to be worth up to $1 billion, saying it was only fair to make all group members pay to fund the litigation.
The Queensland Supreme Court has upheld the legality of litigation funding agreements in a landmark class action judgment that could have a ripple effect across other states in Australia.
German-based 3A Composites has issued an ultimatum in the high-stakes combustible cladding class action against it, saying it will try to shut down the matter as a representative proceeding if group member registration and opt out are not initiated.
From October 1, the Australian Competition and Consumer Commission will apply an updated cartel immunity and cooperation policy, with the changes said to reflect the ACCC’s experiences from key criminal investigations undertaken to date. The ACCC is also launching an online portal to allow whistleblowers to anonymously report alleged cartel conduct directly to the ACCC. Here, King & Wood Mallesons partner Peta Stevenson and senior associate Jacqueline Ibrahim tells you what you need to know about these significant developments.
The operator of a Vietnamese mine has dropped its Federal Court proceedings against WorleyParsons subsidiary Jacobs E&C over the enforcement of a $132 million arbitration award.
The Australian Securities and Investments Commission has filed an appeal against the Federal Court’s responsible lending ruling in favour of Westpac, arguing the decision had created uncertainty around the obligations of credit providers.
Norton Rose Fulbright will have to wait another six months before a long-running dispute with a former partner will be heard, after the ex-employee successfully argued it would be “ludicrous” for the trial to proceed.
Commodity trading and mining company Glencore has won a fight with the Australian Taxation Office over a $92 million tax bill related to copper purchased from a subsidiary operating the Cobar mine in NSW.
A Credit Suisse unit has lost a bid to strike out portions of a case launched by a group of investors over financial products known as MINI warrants, with a judge saying the claims were not untenable as argued.
A top-tier Australian law firm has been ordered to pay more than half a million dollars in damages for professional negligence, after its billionaire client alleged losses of almost $US37 million following a “critical omission” in legal advice.