Boutique class action firm Bannister Law has been told “not to make too much noise” from its spot at “the back of the bus” in the VW dieselgate class actions, after its legal team flagged its intention to try and expedite the $127.1 million settlement approval process.
After four years of litigation, the Volkswagen diesel emissions class actions have reached an in-principle settlement of up to $127.1 million, with affected consumers expected to receive $1,400 per vehicle on average if 100 per cent participation is achieved.
A judge has approved a common fund application in a class action against two IAG entities over add-on insurance said to be worth up to $1 billion, saying it was only fair to make all group members pay to fund the litigation.
The Australian Securities and Investments Commission has filed an appeal against the Federal Court’s responsible lending ruling in favour of Westpac, arguing the decision had created uncertainty around the obligations of credit providers.
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.
Westpac has defeated a responsible lending case brought by the Australian Securities and Investments Commission in relation to almost 262,000 home loans, with the Federal Court finding the corporate regulator misinterpreted the operation of national lending laws.
The funder backing the IAG add-on insurance class action has agreed to a fixed 25 per cent commission, after the plaintiff copped criticism from a judge for the largely redacted funding agreement which called for lower rates if the case settled by a certain date.
A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.
A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was “unfair and unjust”.
A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying the details were needed for a swift resolution of the case.