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Ex-Storm Financial directors lose appeal, Full Court finds they breached their duties
Financial Services 2020-03-27 10:38 pm By Christine Caulfield

The former directors of defunct financial advisory firm Storm Financial have failed in their appeal of a ruling that found they breached their duties to eleven vulnerable investors by providing a one-size-fits-all model of investment advice that was inappropriate.

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Online trial planned in Opal Tower builder’s case against insurers
Construction 2020-03-26 10:41 pm By Christine Caulfield

The Federal Court is pushing ahead with an expedited trial in Icon Co’s case against Liberty Mutual Insurance and QBE over the Opal Tower disaster, just one month after originally scheduled, and it’s going online to do it.

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HWL Ebsworth softens stance, lets lawyers work from home
Business of Law 2020-03-26 9:08 pm By Christine Caulfield

After insisting that employees remain working in the office despite tough government restrictions to combat the spread of the new coronavirus, HWL Ebsworth has changed its tune, saying any lawyer wishing to work remotely could now do so, and would be paid as usual.

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Judge says funder can’t have cut of Banksia receivers $5.5M settlement with insurer
Class Actions 2020-03-26 3:01 pm By Christine Caulfield

The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.

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Mark Elliott’s Blackberry found, judge orders search of phone for evidence in Banksia class action
Class Actions 2020-03-26 1:57 pm By Christine Caulfield

The hunt for the missing Blackberry of deceased class action lawyer and funder Mark Elliott is over, and the located phone will now be examined by IT experts to see if it can be searched for potential evidence to be used as part of an investigation of  alleged professional misconduct by the legal team behind a class action against failed Banksia Securities.

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Spain appeals $375M ruling in arbitration spat over energy investments
Arbitration 2020-03-24 1:16 pm By Christine Caulfield

The Kingdom of Spain is keeping up its fight against the enforcement of two arbitration awards putting it on the hook for paying two investment companies $375 million.

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Insolvency relief not enough to hold back potential ‘tsunami’ of company failures
Restructuring & Insolvency 2020-03-24 12:55 pm By Christine Caulfield

Measures to relax insolvency and bankruptcy laws to stem a possible wave of COVID-19 company collapses will not achieve their goal — and if Australia enters a European-style lockdown it won’t be a wave of insolvencies, it will be a tsunami, Lawyerly has been told.

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Juno halts planned sale of Velcade generic in settlement with Millennium, US
Intellectual Property 2020-03-24 11:08 am By Christine Caulfield

Generic drug maker Juno Pharmaceuticals has agreed to stopped planned sales of its cheap version of Millennium Pharmaceuticals anti-cancer medication Velcade in Australia as part of a settlement of its lawsuit alleging two patents covering the drug were invalid.

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HWL Ebsworth faces potential workplace claim for keeping lawyers in office
Employment 2020-03-23 10:06 pm By Christine Caulfield

HWL Ebsworth is keeping its offices open and requiring lawyers and staff to work at their desks despite updated government health advice, a decision that exposes the law firm to potential liability for workplace health and safety breaches, an employment expert says.

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Insolvency, bankruptcy laws relaxed as government tries to keep businesses afloat
Restructuring & Insolvency 2020-03-22 9:11 pm By Christine Caulfield

Companies under financial strain from measures to stop the spread of the coronavirus will get a reprieve from insolvency and bankruptcy laws as the Federal Government looks to stem a possible tide of company collapses.

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