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Construction PRO
The funder that's backing a class action over land compulsorily acquired for Sydney's WestConnex road project has filed an application to substitute the lead applicants, amid an ongoing fight about whether the case should be discontinued.
A judge has approved orders bringing the receivership of Banksia Securities to an end, with the special receiver opting to not pursue $650,000 in costs against Victorian debenture holders who dropped their case alleging breaches to the scandal-ridden class action.
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.
Construction PRO
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.
Construction PRO
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”.
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”.
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.