Online book retailer Booktopia has admitted it scrapped a term requiring two days’ notice of damaged or incorrect books, but rejects claims by the ACCC that the policy resulted in a systematic refusal to refund customers.
The law firms and barristers who defended former Dick Smith directors in sprawling litigation over the failure of the electronics retailer earned close to $68 million in fees, a court has heard.
A subsidiary of AMP has settled a retired financial planner’s lawsuit accusing the company of using “unfair tactics” to avoid coughing up close to a million dollars owed under a buyout option exercised in November 2019.
Last year brought economic growth and success for law firms, but 2021 was not only marked with good news. A slew of law firms were dragged into litigation by disgruntled ex-clients, with some paying out millions of dollars to resolve lawsuits accusing them of giving bad advice.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
A group of banks that failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse have been ordered to pay indemnity costs after a court found they rejected $10 million settlement offers three days into the trial.
The founder of construction giant Ralan Group will face public examination in the Federal Court as liquidators continue their investigations into the company’s $561 million collapse.
General Motors has lost its bid to de-class a representative proceeding brought by former Holden dealers over its decision to retire the iconic brand, with a judge rejecting the car maker’s “speculative” argument that it would be prejudiced by further lawsuits after the class action was finalised.
National Australia Bank and HSBC should be “jointly and severally liable” to pay a portion of the costs of a failed case brought by Dick Smith’s receivers against the company’s former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
General Motors is facing a lawsuit by a Holden car dealer who allegedly suffered up to $9.26 million in financial loss following the car maker’s decision to pull the iconic brand in Australia.