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The liquidator of failed global financial services firm Babcock & Brown is seeking to permanently stay a shareholder suit it says is an abuse of process, nearly five years after three other cases against the liquidator were thrown out.
The consumer regulator must identify the advertisements it relies on to prove its case against Meta over scam cryptocurrency ads on Facebook, with a judge saying the social media giant should know the case it has to meet.
The Australian provider of the Kraken crypto exchange has told a court that its margin trading product is not a credit facility, rejecting the corporate regulator’s “overly broad” definition of the word ‘credit’.
Uber has hit back at claims that it engaged in corporate espionage by using a software program called SurfCam to lure drivers away from rival GoCatch, saying its actions could not be compared to burglary because the material it obtained was not confidential.
Lawyers at Herbert Smith Freehills panicked as their client Uber obfuscated a regulator’s investigation during an alleged unlawful conspiracy to launch illegal rideshare operations, a trial has heard.
A judge has given the green light to a $11 million settlement in a class action against retirement village provider Aveo, but reserved his decision about whether a contested amount of over $1 million should go to group members or the law firm that brought the case.
Probuild Constructions has failed in its special leave application to the High Court, which sought to challenge a ruling that it held $7.7 million in trust for insurer Allianz under a deed of indemnity in connection with the development of West Side Place in Spencer St, Melbourne.
A judge asked to approve an $11 million settlement in a class action against retirement village provider Aveo is considering a proposal by court-appointed contradictors to set aside a percentage of the sum for group members, which would leave the law firm running the case $2 million out of pocket.
Two law firms that were able to "work cooperatively" to join their cases have been awarded carriage of a shareholder class action against mining firm Downer EDI. The judge overseeing the proceedings also approved a group costs order application that proposed a "reasonable rate" of return to the firms.
The field of competitors in a four-way contest to run a shareholder class action against Downer EDI over a $40 million profit overstatement has narrowed with the consolidation of three cases, leaving one firm to face criticism over its comparative inexperience running group proceedings.