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A law firm is challenging an order that it pay $5.4 million in a class action against Macquarie Leasing as security for the lender's costs, saying concerns about its borrowing capacity were “theoretical and speculative.”
S&P is free to pay for a Rolls-Royce defence in "Rolls-Royce litigation" that alleges the agency engaged in fraud in assigning ratings to risky financial products, a judge has said.
With its new business model of self-funding class actions, Maurice Blackburn can't get by with an undertaking to indemnify Macquarie for its costs if a case over flex commissions fails.
A class action over S&P’s rosy ratings on risky financial products faces a preliminary fight over the relevance of expert evidence that seeks to prove fraud on the part of the ratings agency.
Four proceedings over COVID-19 business interruption losses will be stripped of class action status, with a judge saying most of the common issues were already determined in test cases.
A judge has criticised the pleadings in class actions against ANZ, Macquarie and Westpac over flexible commission schemes for car dealers, saying they were "inappropriate and unhelpful" in referring to documents in the banking royal commission.
Banks targeted in long-running class actions over flexible commission schemes for car dealers are resisting the plaintiffs’ bid to amend their pleadings to “get around” the defence that certain claims are time-barred.
Online auction site Grays has been ordered to pay $10 million in penalties after it admitted to making misleading statements in the descriptions of at least 750 cars listed for sale on its website.
Four insurers have argued that class actions over alleged business interruption losses during the height of the COVID-19 pandemic should be de-classed, with one insurer saying group members cannot “go behind” a Full Court decision denying coverage for certain policyholders.
A judge has raised concerns about bids to declass group proceedings over alleged business interruption losses during the height of the COVID-19 pandemic, saying the thousands of policyholders who registered for the class actions might reap more from the cases than making claims directly with their insurers.