The builder of Sydney’s troubled Opal Tower has brought a claim for indemnity against insurer Liberty Mutual, which has already agreed to pay out $22.5 million, claiming it is owed a total of $12.5 million for its costs in defending a class action by residents.
A judge has expressed concern about the Australian Securities and Investments Commission’s suspicion that a former director of Keystone Asset Management may have used investor funds to purchase a house in his wife’s name, calling it “alarming”.
A judge has signed off on a $16 million settlement in a class action against Dixon Advisory, but the funder of a competing case that was stayed after losing a beauty parade has earned a fragment of the $1 million it sought from the resolution sum.
A judge has approved a group costs order in a shareholder class action against building materials giant James Hardie Industries, giving firm Echo Law a 27.5 per cent cut of any proceeds from the case.
A law firm running a shareholder class action against building materials giant James Hardie Industries has argued for a 27.5 per cent group costs order, saying it was the “standard benchmark” for earnings guidance cases.
Wealth manager E&P Financial Group has agreed to a $16 million settlement in a class action by Dixon Advisory clients who allege they suffered financial loss when the firm and its directors encouraged the purchase of high risk securities.
A judge has approved the first settlement in dozens of negligence cases against the Minister for Home Affairs on behalf of refugees detained by the Australian government on the island of Nauru.
Westpac, Macquarie and ANZ have won soft class closure orders ahead of mediation in three class actions over flexible commissions schemes after a judge found they will improve the chances of settlement. In a judgment handed down on Thursday, Victoria Supreme Court Justice Lisa Nichols ordered that group members have to formally register in the […]
Westpac, Macquarie and ANZ are seeking class closure orders ahead of mediation in three class actions over flexible commissions schemes, telling a court hearing they will be “completely at sea” without a better idea of the class size.
ANZ has been hit with a $10 million penalty in a case brought by the Australian Securities and Investments Commission alleging the bank’s home loan ‘introducer’ referral program breached credit laws.