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The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
A shareholder class action against mineral sands producer Iluka Resources has locked in litigation funding, ending months of uncertainty about the fate of the proceedings.
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.
A judge has questioned a common fund application in a class action against two IAG entities over allegedly worthless add-on insurance, saying there may be a "degree of chaos" if the order was approved only to be undone by a pending High Court decision.
The applicants in the Iluka Resources shareholder class action have less than a week to lock-in a $1.25 million security for costs, after the judge overseeing the case asked if he was allowed to dismiss proceedings himself following six months of being “very patient” about ongoing funding dramas.
Group members in the Fitch Ratings class action have recovered almost 95 per cent of their losses in a $27 million settlement, which was narrowly approved after a judge scolded the parties for a lack of clarity around the mediation and opt-out process.
Mineral sands producer Iluka Resources is threatening a dismissal bid in a shareholder class action it has spent $2 million fighting over the past year, amid concerns proposed security could be inadequate and the applicant has still to finalise an agreement with a litigation funder.
Fitch Ratings has agreed to settle the last of the investor class actions in Australia flowing from the global financial crisis, a court heard Friday.
The judge overseeing the Sydney light rail class action has ordered that a contradictor be appointed to weigh in on a proposed common fund order, which includes a 25 per cent commission for the funder that is backing the case.
Two former executives of Dick Smith may seek to vacate an upcoming trial date for two class actions against the failed retailer, after recently being hit with cross claims by the company’s former auditor, Deloitte.