Most Recent
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.
A judge has given the greenlight to a $10 million settlement with entities linked to late solicitor and Banksia class action mastermind Mark Elliott, noting the “perverse” difficulty of recovering more of the $70 million in assets held on trust.
Entities linked to the late solicitor Mark Elliott are set to pay $10 million to settle claims by Banksia class action members, despite a related company owning $70 million on trust, a court has heard.
Two months after reserving judgment, an appeals court has allowed the Worley class action to reopen the case to offer its take on the relevance of the Full Court's ruling last month in the CBA class actions.
The receiver appointed a decade ago to claw back money for investors in failed Banksia Securities might seek the protection of a court order releasing him from proposed new proceedings, which would also target lawyers alleged to have breached their overarching obligations.
That it once had a $100,000 bank cheque is not sufficient evidence to prove a funder behind a class action over the $16 billion WestConnex tunnel can meet a costs order in a feud with the applicants, an appeals court has said.
Construction PRO
The funder behind a class action against Transport for NSW over the $16 billion WestConnex project has lost another appeal in its ongoing spat with the lead applicants.
A judge was too exacting in deciding the applicant in a shareholder class action against engineering services firm Worley suffered no loss from misleading guidance, an appeals court has heard.