A law firm representing a property developer in an investigation of a potential class action against failed asset manager Blue Sky Alternative Investments is seeking access to the firm’s insurance documents to decide whether it is “worthwhile” to launch proceedings.
New requirements that funded class actions be run as managed investment schemes will throw up myriad new questions for the courts, with lawyers predicting novel challenges by defendants and group members and an altered landscape for competing class actions.
A Federal Court judge has taken a swipe at new regulations that require class action funding arrangements to be registered as managed investment schemes, saying it was difficult to reconcile the new rules with the class action regime.
A shareholder class action against defunct fund manager Blue Sky Investments and others will be filed by the end of the year, Lawyerly has learned.
The Commonwealth Bank of Australia has slammed an attempt by a class action to “trawl through” its Chief Executive Officer’s emails in search of correspondence regarding it decision to rebate commissions grandfathered by the Future of Financial Advice reforms.
The funder backing a class action accusing two energy generators of gaming Queensland’s energy prices wants the Full Court to find the landmark Brookfield Multiplex ruling, which held that a litigation funding arrangement for a class action was a managed investment scheme, was wrongly decided.
The Full Court should determine whether a class action accusing two state-owned energy generators of gaming Queensland’s energy pricing system needs to comply with regulations requiring litigation funders to register class actions as managed investment schemes, a court has been told.
ASIC is challenging the dismissal of its enforcement action against payday lenders Cigno and BHF Solutions in a decision that found the companies did not need a licence to issue loans to hundreds of thousands of consumers.
A judge has ordered that class action firm Adero Law take down surveys from its website allegedly aimed at collecting registration data from group members in an underpayment class action against convenience store chain On The Run.
A judge has allowed a key US-based witness in ASIC’s case against former Quintis director Frank Wilson who will not submit to 14 days in hotel quarantine to give evidence by video link.