Mortgage broker Lendi Group and insurer ALI Group want to declass a junk insurance class action, telling a judge that even in a successful scenario, the more than 13,000 group members will be left to share only $2.5 million.
An email to lawyers at Clifford Chance relied on to show investor Fiona Lock’s understanding of a contested $150 million profit sharing deal with trading platform Pepperstone did not open the door to further correspondence.
Insurance Australia Limited and Insurance Manufacturers of Australia have denied a class action’s claims that they misled insurance customers about loyalty discounts by calculating their premiums using an algorithm designed to maximise renewals.
Developer Castle Group can move ahead with its purchase of a block of land in south west Sydney, with a court finding that purchasers of off-the-plan lots have no present interest that can defeat Castle’s right.
There are at least three individual suits proceeding against Melbourne law firm Waller Legal after a class action alleging it consistently failed to bring economic loss claims on behalf of sexual abuse clients was declassed, a court has heard.
A judge has found that Nine’s apology to the former owner of collapsed budget airfare company Bestjet over unsubstantiated claims made in a story about the company’s demise was sufficient to resolve their defamation dispute.
A judge has said that asset preservation orders are likely warranted against the former head of collapsed builder Quasar Constructions, after its liquidator revealed he sold $24 million in property interests shortly before the company went under, but found he did not have power to make the orders.
The Victorian government has given the go-ahead to Viva Energy’s plans to construct a liquefied natural gas terminal in Geelong.
Two Australian companies who held all the shares in Mirabela Mineração do Brasil’s main asset, the Santa Rita Mine, have successfully argued that a contract variation and their subsequent termination of the sale contract was lawful, in spite of their Brazilian counterparts’ late signature.
A judge has balked at Maurice Blackburn’s hourly rates in a jointly run class action against Treasury Wine Estates, questioning why the firm charged 20 per cent more than fellow preeminent class action firm Slater & Gordon.