Banksia Securities investors who agreed to drop their case alleging breaches linked to a scandal-ridden class action have been hit with costs, with a judge saying the case was “plainly” not for the benefit of all group members.
The lead plaintiffs in a class action over the compulsory acquisition of land for the WestConnex road project will press on with a bid to discontinue the case, telling a judge they have exhausted all options for funding.
The lead plaintiffs in a class action over the compulsory acquisition of land for the WestConnex road project will press on with a bid to discontinue the case, telling a judge they have exhausted all options for funding.
A funder that has refused to continue funding a class action over the WestConnex road project is also fighting the plaintiff’s bid to discontinue the case, with a judge calling the funder’s opposition “very problematic”.
A funder that has allegedly refused to provide further funding in a class action over the compulsory acquisition of land for the WestConnex road project is also fighting the plaintiff’s bid to discontinue the case, with a judge calling the funder’s opposition “very problematic”.
KMPG partner John Lindholm has escaped a potential probe into his decision to endorse a settlement in the scandal-ridden Banksia Securities class action as the receiver for the collapsed lender.
A judge has questioned whether an investor in failed Banksia Securities can bring a case against a court-appointed receiver over his support for a class action settlement later found to involve deception by a team of lawyers.
The receiver for Banksia Securities — the failed lender at the centre of a scandal-ridden class action — has argued a new case accusing him of serious misconduct is vexatious and wants a court to release him from the claims.
German investment firm Aurelius can add new claims in a dispute with explosives company Orica over a $180 million acquisition, but a judge has called out solicitors for both sides for filing material of “inordinate length” on an application concerning well-established law.
The receiver for failed Banksia Securities wants a release from claims stemming from his role, including a case by investors who lost their life savings only to be duped by the class action team that represented them.