Three firms fighting for carriage of a $80 million class action against Star Entertainment say a group costs order would guard against ‘costs blowouts’ in the case and have urged a judge to ditch a no win, no fee proposal brought by fourth-to-file firm Shine Lawyers.
It was “fundamentally wrong” that AMP Financial Planning paid consultant PricewaterhouseCoopers significantly more to review a court-ordered remediation than was paid to customers who suffered loss after an adviser churned life insurance policies for higher commissions, a judge has said.
A sacked Greenwoods & Herbert Smith Freehills partner seeking $13 million in compensation from his former firm and Lendlease has been criticised for claiming that whistleblower protections introduced in 2019 “wouldn’t make sense” if they did not apply retroactively.
A judge has approved a walk-away settlement with two former directors of RCR Tomlinson in a shareholder class action against the failed engineering company.
A judge hearing a lawsuit by an ex-Greenwoods & Herbert Smith Freehills partner seeking $13 million in compensation from his former firm and Lendlease has ordered that the court first decide whether new whistleblower protections apply retrospectively.
The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA’s anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank’s share price plummet.
A judge overseeing a class action over AMP’s fees for no service practice has dismissed the applicant’s bid to access communications between AMP and law firm Clayton Utz that led up to an ostensibly independent report that allegedly went through 25 rounds of edits with the wealth manager’s inhouse lawyers.
A judge overseeing a shareholder class action against the now failed GetSwift has urged the applicant to decide soon if he will forge ahead with a problematic settlement, seek summary judgment or wait to see what comes of the parent company’s bankruptcy case.
Commonwealth Bank units CommSec and Australian Investments Exchange have been ordered to pay more than $27 million for “serious and unacceptable” system failures that led to excessive fee charges for customers.
A judge has questioned AMP Financial Planning over whether it breached court orders to compensate customers after finding the firm failed to prevent a now banned adviser from churning life insurance for higher commissions.