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IOOF liability ‘plain as a pike staff’, APRA says at start of trial
Arnold Bloch Leibler 2019-07-01 10:47 pm By Amelia Birnie Sydney

The prudential regulator has opened the first day of its case against IOOF directors and entities by claiming the wealth manager’s liability is “plain as a pike staff”, as IOOF contends the regulator’s case is “artificial and theoretical” and “overly simplistic”.

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Ariosa infringed Sequenom’s patent for prenatal genetic test, court finds
Adrian Ryan 2019-07-01 10:07 pm By Cat Fredenburgh Melbourne

A court has found Ariosa Diagnostics infringed a patent held by Sequenom for a noninvasive prenatal genetic test, and ruled one claim of the patent invalid for lack of fair basis.

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Mondelez overvalued Aussie biz in $460M sale to Bega, suit claims
Addisons 2019-07-01 9:43 pm By Cat Fredenburgh Melbourne

Bega Cheese is accusing global food giant Mondelez of overstating the value of the Australian assets purchased for $460 million in July 2017 as part of a deal that’s also at the centre of an ongoing dispute with Kraft over peanut butter trade dress rights.

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‘Neglect, inexperience, incompetence’: IOOF unit faces $82M trial over plantation sale
Alan Sullivan 2019-07-01 7:23 pm By Miklos Bolza Sydney

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.

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Commercial interests shouldn’t bar consolidation, says Brambles class action judge
Allens 2019-06-28 11:57 pm By Cat Fredenburgh Melbourne

A judge has released his reasons for consolidating two shareholder class actions against logistics company Brambles over opposition by the lead applicant in one of the competing cases, saying the interests of group members trumped those of the lawyers and funders in the case.

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Slater & Gordon hits back at ex-lawyer’s claims over allegedly unethical funding referral scheme
Arnold Bloch Leibler 2019-06-28 11:21 pm By Christine Caulfield Melbourne

Slater & Gordon has struck back against allegations by a former senior solicitor that he was fired after making complaints about the law firm’s arrangement with a third-party funder for personal injury clients, denying any unethical practices and arguing the lawyer’s termination was part of a cost-cutting restructure.

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Equititrust settlement with KPMG approved after no objections to funder taking all
Accounting 2019-06-28 9:04 pm By Amelia Birnie Sydney

A court has approved a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG, after not a single objection was raised by unitholders or creditors who won’t receive anything after the entire amount is paid to the funder.

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Judge flushes ACCC’s consumer case over Kimberly-Clark wipes
Competition & Consumer Protection 2019-06-28 3:42 pm By Cat Fredenburgh Melbourne

The Australian Competition and Consumer Commission has lost its case alleging Kimberly-Clark made misleading representations about its flushable wipes, with a judge finding the consumer regulator failed to provide sufficient evidence to show the wipes caused harm to sewage systems.

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Incentive-based funding commission dropped in IAG insurance class action
Bannister Law 2019-06-28 12:48 pm By Amelia Birnie Sydney

The funder backing the IAG add-on insurance class action has agreed to a fixed 25 per cent commission, after the plaintiff copped criticism from a judge for the largely redacted funding agreement which called for lower rates if the case settled by a certain date.

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Queensland law firm says excessive fees class action ‘costing them a fortune’
Class Actions 2019-06-27 8:14 pm By Amelia Birnie Sydney

A judge has told the lead plaintiff in a class action over allegedly excessive legal fees to get their “house in order”, amid complaints by the Queensland compensation law firm at the centre of the dispute that the litigation is “costing them a fortune”.

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