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A litigation funder is planning to challenge a landmark Federal Court ruling that found for the first time that funders can be ordered to pay security for costs in Fair Work class actions.
A landmark ruling has found judges have the power to order security against litigation funders backing Fair Work class actions, in a decision that could change the landscape of representative proceedings.
The hearing for a class action against National Australia Bank over allegedly worthless credit card insurance will focus on whether the bank's allegedly unconscionable behaviour in selling these policies was systemic or confined to individual cases.
The Australian Securities and Investments Commission has won its bid to use evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
A class action against National Australia Bank over allegedly worthless consumer credit insurance could be referred to the Full Federal Court just three months out from trial, amid concerns that the class action was not validly commenced.
A judge has baulked at an application by labour hire company Chandler Macleod and BHP unit Mt Arthur Coal seeking security for their legal costs in two casual worker class actions, saying Fair Work cases were not the same as shareholder class actions.
A judge has granted a bid by the applicant in a class action against National Australia Bank over the sale of allegedly worthless credit card insurance to include customers who took out personal loan insurance, in a ruling that could significantly expand the case.
The amicus hired to assess the funder's cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he's considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder's commission.