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A judge has declined to make a common fund order in approving a $35 million settlement in a shareholder class action against telecommunications firm Vocus Group, resulting in a reduced payout for the funders that backed the case.
The judge presiding over the settlement approval hearing in a shareholder class action against telecommunications company Vocus Group has questioned whether the High Court's recent ruling striking down common fund orders at the outset of class actions would allow him to make such an order at settlement.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm's former insurance broker.
BHP has failed in a bid to shut down a class action over the Fundao dam failure pending criminal proceedings in Brazil, with a judge ruling the mining giant would not be prejudiced if the case proceeded for now.
A judge has directed solicitors for deceased lawyer and funder Mark Elliott to search for his missing mobile phone, which is wanted for potential evidence by a court-appointed contradictor investigating alleged professional misconduct on the part of the legal team behind a settled class action against failed Banksia Securities.
A law firm has dodged a $6.5 million negligence claim by a Tasmanian agricultural business over advice supplied about agreements entered into with a division of collapsed forestry giant Gunns Limited, with a judge slamming the company director's evidence as "rambling and non-responsive".
Former Tennis Australia director Harold Mitchell was "pushing very hard" for the Seven Network to score the domestic broadcast rights to the Australian Open in 2013 over better offers from rival broadcasters, the Federal Court heard Monday.
Ex-Tennis Australia director and current Dentons partner Steve Healy, who is facing action by the corporate regulator over the broadcast rights to the Australian Open, has lost a bid for access to six years of emails between two other former board members.
Two former directors of Tennis Australia can't access chats between ASIC and other executives from the tennis body, with a judge finding the documents recording the communications with the potential witnesses were created in anticipation of litigation and were therefore privileged.
Two units of global insurer Lloyd's have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.