ANZ has recruited seasoned class actions lawyer Ken Adams to be its next group general counsel as the bank faces two cases over a botched share placement and braces for the possibility of more litigation in the wake of the Banking Royal Commission.
UGL knew a loss for its Ichthys power project was “looming” as early as February 2014, according to amended pleadings in a shareholder class action, which claims the engineering firm should have forecast a loss of $129 million for the project.
The lead applicant in a shareholder class action against global engineering firm CIMIC Group has made a bid for indemnity costs, after a last-minute subpoena of three former executives led to the trial being vacated.
The High Court has granted ASIC special leave to appeal a judgment that let a former director of Gold Coast finance company MFS Group partially off the hook for $147.5 million in misappropriated funds, after ASIC argued the High Court should intervene to clarify the scope of the word “officer” under the Corporations Act.
Technology consulting group Infosys must hand over more documents — including source code — to Qudos as the mutual bank considers a possible copyright infringement and breach of contract case in the wake of a soured deal to help overhaul its online banking platform.
US hedge fund Oaktree Capital has placed fund manager Blue Sky Alternative Investments into receivership, following a tumultuous period marked by the loss of senior executives and three shareholder class action investigations amid concerns about the company’s method for valuing its assets under management.
Australian distribution firm Halifax Vogel has struck back at a class action alleging it violated consumer laws with its representations regarding the quality of Alucobond cladding, denying that the cladding puts buildings and their occupants at risk of harm or death from fire.
Former IOOF chairman George Venardos will be allowed to object to incriminating evidence and discovery in proceedings brought by APRA, after a court found there was a real and appreciable risk that ASIC could also bring a civil case against him.
Nine Entertainment Company has resolved a defamation lawsuit brought by a prominent Sydney cosmetic surgeon over an article that appeared in the Sydney Morning Herald about the death of a criminal figure during a nose job procedure.
Engineering firm Jacobs E&C, which was acquired by WorleyParsons last year, has said it will resist an arbitration judgment of around $132 million handed down against it in March to the operator of a Vietnamese mine.