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The former CEO of beverage company Nudie and his wife can't escape a liquidator’s case that seeks to void clauses of a settlement that released them from breach of duty claims over an alleged fraudulent tax scheme.
Japanese bank SMBC, which was duped by fraudster Bill Papas to enter into agreements with a Humm subsidiary for assets and receivables that didn't exist, has won the right to call in warranties on its $113.7 million investment.
Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Wealth manager Colonial First State Investments and insurer AIA have reached a $140 million settlement in a long-running class action alleging 700,000 superannuation members were charged inflated premiums on insurance products linked to former owner CBA.
In the third decision approving an unaltered group costs order at the resolution of a class action, a judge has OK'd an $85 million settlement by ANZ, representing a $21 million payday for Maurice Blackburn.
A judge has dismissed applications by mortgage broker Lendi Group and insurer ALI Group to declass a group proceeding over allegedly worthless mortgage insurance, saying it would be more efficient for the claims to advance as a class action.
Mortgage broker Lendi Group and insurer ALI Group want to declass a junk insurance class action, telling a judge that even in a successful scenario, the more than 13,000 group members will be left to share only $2.5 million.
The plaintiff in a flex commissions class action against ANZ has asked the court to approve a $85 million settlement, including a 24.5 per cent group costs order, citing the “considerable risk” involved in running the case.
The litigation funder behind a class action against engineering firm CIMIC took a $4.7 million hit to its commission from a settlement after a dispute with the plaintiff's law firm, according to a decision published Friday.
A judge has approved a $45.25 million settlement in a shareholder class action against engineering firm CIMIC over disclosures relating to its Middle East business.