A class action against Transport for NSW over the alleged fraudulent acquisition of land to construct the $16 billion Westconnex tunnel in Sydney has been put on ice until the funder and the lead plaintiff can resolve a potential dispute.
A judge hearing an appeal by a funder over its cut of a $98 million settlement in franchisee class actions against 7-Eleven has said the $12 million commission was “plainly too little”, and questioned if the class action judge had been “stuck” on the idea that common fund orders are bad.
The son of the architect of the Banksia class action fraud has been struck from the roll of lawyers by a Supreme Court of Victoria judge, who on Monday also approved a settlement with companies linked to the disgraced senior counsel for the case.
Greensill Capital’s UK division has won a stay of several lawsuits over the supply chain financing firm’s $1.7 billion collapse, but an insurer has already flagged a bid to press on with its claims against the company.
A judge has indicated he will approve settlements totalling $2.7 million reached with disgraced senior barrister Norman O’Bryan and a cost consultant retained by the legal team behind the Banksia class action fraud.
The value of assets held by companies linked to the late Banksia Securities class action funder is expected to top the $19 million owing on a court judgment against the fraudster and his c0-conspirators.
A judge overseeing two 7-Eleven class actions has signed off on $2.25 million in costs incurred by the funder and lawyers in their pitched battle to win approval for the terms of a $98 million settlement, which included deductions of more than $44 million to cover commission and fees.
The Victoria Supreme Court will not appoint a contradictor to weigh in on the reasonableness of a $1.25 million settlement offered by companies associated with the wife of a once prominent silk struck from the roll over the Banksia Securities class action scandal.
Companies linked to the wife of the disgraced Banksia Securities class action silk Norman O’Bryan have offered $1.25 million to settle proceedings seeking to recover a $21.5 million judgment for defrauded investors.
A judge has approved a $12 million payment to the funder of two franchisee class actions against 7-Eleven, even as the funder plans to appeal a decision rejecting its bid for a common fund order for a $24.5 million commission.