Three law firms will represent the insurers in new proceedings launched to resolve a $46 million insurance question delaying settlement of two shareholder class actions against sandlewood producer Quintis, bringing the total number of law firms working on the class action to eight.
In a defeat to the Australian Securities and Investments Commission, a judge has found a key witness in the trial against former Quintis director Frank Wilson must give evidence in person, delaying the hearing indefinitely until coronavirus-related travel restrictions are lifted.
Queensland’s two largest electricity generators are facing a potential class action over alleged “bidding games” designed to artificially inflate consumers’ electricity bills.
The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed for a second time, as the parties continue to investigate the company’s eleventh-hour revelation that it may have extra insurance, which, according to the lawyers of one class action, could be worth $46 million to group members.
Cigno has appealed a ruling shooting down its challenge to the first action brought by ASIC under its powers to prohibit ‘predatory’ financial products, which targeted the payday lender’s model of short-term credit lending.
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.
Piper Alderman will spend the next six weeks gathering documents for a former partner who is seeking to revive her unlawful discrimination case against the firm, but a court limited the categories of documents sought to prevent a ‘fishing’ expedition.
Payday lender Cigno has lost a challenge to the corporate regulator’s first action under powers to prohibit ‘predatory’ financial products that targeted its model of short-term credit lending.
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.