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Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.
A $29.95 million settlement resolving a superannuation class action against two Westpac units has won court approval. The judge overseeing the case has also indicated he will OK the litigation funder's commission but only some of its after-the-event insurance premium.
Two units of electricity giant AGL Energy will pay penalties totalling $6 million for being unable to make good on their promise to be on standby to release electricity to help prevent blackouts.
Two former Dick Smith executives have settled with the receivers of the defunct electronics retailer, dropping a High Court appeal over an $11.8 million ruling.
Despite a judge's complaint that class action costs are generally "out of control", the law firm that secured a $192.5 million settlement and earned about $25 million in fees in the Montara oil spill case has won approval for more fees -- these ones incurred in a hearing to determine how the settlement spoils should be divided.
A former Holden dealer has won the right to see General Motors corporate strategy documents in the five years leading up to Holden's retirement, in his suit claiming the carmaker's executives misled him when saying GM was “100% committed” to the line before axing it just a few years later.
The developer of healthcare directory app Whitecoat must pay health insurer and joint venture partner NIB $1.6 million for loans that were never repaid following the app’s sale to the Commonwealth Bank for $42.5 million in 2021.
A judge overseeing a $192.5 million settlement in an oil spill class action against PTTEP Australia on behalf of Indonesian seaweed farmers has balked at the “very large” costs sought by Maurice Blackburn for administering the deal, expressing concerns that class action costs are “getting out of control”.
A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has flagged the possibility of appointing a contradictor to examine the litigation funder’s claimed cut of the settlement, which includes a deduction of over $1 million to cover the costs of after-the-event insurance.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.