A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.
Crown Resorts has appealed a ruling in a shareholder class action against it allowing 18 former employees, who were jailed as part of the Chinese government’s crackdown on gambling, to answer questions about its business in China.
A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying the details were needed for a swift resolution of the case.
The High Court will not review an appeals court’s decision to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
TV giant Foxtel wants another shot at opposing a trade mark by telco China Unicom, after a judge let stand an IP Australia decision refusing to revoke the trade mark when law firm Allens missed a deadline for opposing the mark.
A former senior lawyer at Slater & Gordon has filed a lawsuit against his old employer, claiming he was fired after complaining about allegedly unethical practices within the firm.
Actor Geoffrey Rush has been awarded almost $2.9 million in damages following his successful defamation case against Daily Telegraph publisher Nationwide News, as the court hears the newspaper ignored an offer to settle for $50,000 and an apology.
Parties in an ongoing four-and-a-half year long investor class action against Fitch Ratings have agreed to a second round of mediation after a prior attempt was adjourned without success.
A Queensland Supreme Court judge has given the green light for a $30 million settlement of a liquidator’s case against failed financial services firm LM Investment Management, saying the result was appropriate and “a matter of some public interest”.
The former directors of collapsed mining company Termite Resources have appealed a ruling ordering them to pay $7 million in damages for allegedly breaching their duty by distributing more than $46 million to Termite’s parent company and failing to maintain a cash reserve of at least $10 million.