IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.
The Australian Energy Regulator has launched legal action against energy giant AGL and three wind farm subsidiaries over a statewide blackout in South Australia three years ago.
Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.
IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.
The Australian Securities and Investments Commission has narrowly lost its High Court appeal of a ruling that found the owner of a South Australian outback general store had not acted unconscionably by selling used cars through a “book-up” system.
A Federal Court judge has been asked to recuse himself from a legal dispute between Norton Rose Fulbright and a former employment partner who was terminated from the firm.
H.J. Heinz Company has dropped its appeal of a ruling that it marketed its sugary snacks to kids as healthy, after the ACCC won a fraction of the $10 million fine it sought for the consumer law violations.
A Federal Court judge has allowed the plaintiffs in a class action alleging a unit of Westpac failed to detect the fraud of convicted Ponzi schemer Michael Samra to proceed with their claims against Samra’s defunct company.