A prominent silk deliberately misled a cost consultant retained to provide an opinion on the barrister’s fees to a court overseeing a class action over the collapse of Banksia Securities, then joked about it with lawyer and litigation funder Mark Elliott, a judge has been told.
The funder behind the Banksia Securities class action has failed in a bid to have an outstanding case over legal fees and its commission sent to mediation, with a judge saying the issues for trial involve allegations against lawyers of serious misconduct not appropriate for closed-door negotiations.
The liquidators of defunct stockbroker Halifax are justified in their decision to refrain from realising existing investments over the protests of some investors, until substantive issues in the liquidation are resolved, a court has directed.
Voluntary administration was the only option for Virgin, and the extraordinary circumstances surrounding the airline’s decline could present a unique opportunity for the administrators to push the boundaries of corporations law, according to insolvency experts.
Engineering firm Adcon has failed in a bid to block developer Icon from accessing a $396,000 bank guarantee after delays in the development of the Botanic Melbourne residential apartment complex.
Two barristers facing professional misconduct allegations in relation to the Banksia securities class action submitted more than $2.65 million in legal bills without documentation more than five years after the class action was filed and may have done so at the behest of funder Mark Elliott, a court has heard.
With new lockdown measures being rolled out on a daily basis to combat COVID-19, vast numbers of Australians have found themselves working from home, many for the first time. As employers and staff scramble to set up makeshift home offices and navigate the world of video conferencing, lawyers are reminding their clients not to forget the legal risks that come with remote working.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.
The former boss of Sydney’s 2GB and Melbourne’s 3AW radio stations, Adam Lang, has resolved his defamation case against the publisher of the Daily Telegraph over articles he claimed portrayed him as an incompetent, sadistic executive who created a toxic work atmosphere.
Two law firms have mandated that staff begin working from home to limit the spread of the new coronavirus, while others begin shifting their workforce offsite as firms test their ability to weather what is expected to be a prolonged public health crisis.