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Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator's case against the company's founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
Noting the "significant and beneficial reduction" in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed off on an order capping the commission of the funders at 25 per cent of any net proceeds and setting a minimum 50 per cent of any recovery for group members.
Noting the relevant three-year limitations provision was "quite unusal", the judge overseeing a consumer class action against horse vaccine manufacturer Zoetis has given the class a chance to add a second applicant to the case, after it was revealed that part of the lead applicant's claim was out of time.
Recycling company Sims Metal Management has responded to a shareholder class action ahead of a hearing on Tuesday, denying it breached its continuous disclosure obligations and partially placing the blame for any losses at the feet of group members.