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A law firm partner working on a shareholder class action over the collapse of Blue Sky Alternative Investments has faced cross-examination by counsel for auditor EY over alleged delays in seeking to amend the case.
A judge has ordered ANZ to pay $250 million in penalties in four cases by ASIC – $10 million more than the bank had agreed to pay – saying ANZ had "substantially deceived” the government by overstating bond trading volumes.
Collapsed supply chain finance company Greensill Bank can't access a copy of a Tokio Marine unit's database, with a judge finding the copy was created for the primary purpose of HWL Ebsworth providing legal advice.
A judge has questioned whether an agreed penalty against ANZ for overstating bond trading volumes is sufficient, noting the misrepresentations were "very significant".
The judge who tossed a class action by Quintis' shareholders should have found a restatement of assets would have materially affected the sandalwood company's share price "as a matter of common sense", a court has been told.
S&P has reached a settlement in a case by two Cayman Island companies over alleged defective ratings but a class action won’t settle until “hell freezes over,” a court has heard.
The funder of a failed class action against the founder of sandalwood producer Quintis and EY and has been hit with costs, despite arguing the order would set a bad precedent.
The former CEO of the Star was not responsible for every aspect of the business and instead played a "supervisory role", a court has heard in ASIC’s case over the casino’s money laundering failures.
Star Entertainment's management and board cannot shirk responsibility for turning a blind eye to money laundering risks by pointing the finger at each other, ASIC has told a court.
The funder that backed a failed shareholder class action against an ex-Quintis director and EY is fighting a bid for a third-party costs order, arguing such orders shouldn't be imposed on funders where there is no doubt they will pay up.