A class action against Irish insurer Zurich Insurance Plc by unit owners of the defective New Zealand-based Victopia Apartments can proceed in Australia after the NSW Supreme Court ruled the case could not be filed elsewhere.
Financial services company AMP has lost its bid to de-class representative proceedings brought on behalf of 1.5 million insurance customers.
A court has delayed a hearing on a bid by the applicant in a class action against Dixon Advisory to freeze a $7.2 million penalty secured by the Australian Securities and Investments Commission against the self-managed superfund provider so the corporate regulator can consider its position on the request.
The applicant in a class action against self-managed superfund provider Dixon Advisory wants to intervene in ASIC’s proceedings, which the company agreed to resolve for $7.2 million, saying any penalty in the case should be held by the court until the resolution of the class action.
A judge has thrown out a lawsuit that argued the funding for a class action against two Queensland energy generators didn’t comply with new regulations targeting litigation funders, and said a landmark judgment that held class action funding agreements were managed investment schemes was conceptually incoherent and ripe for a Full Court challenge.
E&P Financial Group says it will defend a class action brought against it, subsidiary Dixon Advisory and director Alan Dixon, alleging they reaped millions of dollars in fees by pushing unsuitable financial products onto investors.
Financial services company Dixon Advisory has been hit with a class action for allegedly pushing financial products onto investors that it stood to reap hundreds of millions of dollars in fees from and failing to disclose its alleged conflict of interest.
Asset manager Aurora Funds has won its bid to toss a demand by law firm Piper Alderman for $119,335 in allegedly unpaid legal fees, with a judge finding the terms of a settlement deed between the parties may operate as a “penalty” for defaulting on payments.
Class action claims brought by trainees against convenience store chain On The Run may be discontinued because of high costs and lack of commonality if an application before the Federal Court is successful.
AMP and a number of its financial planning subsidiaries could face 1.2 million individual claims if they win a bid to declass a group proceeding over allegedly excessive insurance premiums, a judge has said.