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Mortgage broker Lendi Group and insurer ALI Group want to declass a junk insurance class action, telling a judge that even in a successful scenario, the more than 13,000 group members will be left to share only $2.5 million.
Construction PRO
Developer Castle Group can move ahead with its purchase of a block of land in south west Sydney, with a court finding that purchasers of off-the-plan lots have no present interest that can defeat Castle’s right.
The judge overseeing two competing class actions against Google has issued a warning to law firms that agree to team up and work on a class action together, saying that in other markets such arrangements might be viewed as “something akin to a cartel”.
A class action by investors in a Melbourne apartment develpment has resolved for $2.6 million, but the law firm bringing the case will take a haircut on its fees after group members ignored calls to contribute to the costs.
An email to lawyers at Clifford Chance relied on to show investor Fiona Lock’s understanding of a contested $150 million profit sharing deal with trading platform Pepperstone did not open the door to further correspondence.
Construction PRO
A bid by the parties for the court to determine legal costs in a successful case over the $55 million sale of a Queensland shopping centre has left a judge scratching his head.
Insurance Australia Limited and Insurance Manufacturers of Australia have denied a class action's claims that they misled insurance customers about loyalty discounts by calculating their premiums using an algorithm designed to maximise renewals.
Former Victorian Liberal Party leader John Pesutto has been hit with a bankruptcy notice after failing to pay $2.3 million in costs in MP Moira Deeming’s defamation suit over statements implying she had links to neo-Nazis.
Penalty proceedings in ASIC's case against coal producer TerraCom have been put on ice until the regulator’s suit against the company’s directors goes to trial.
Construction PRO
A charitable trust of the late artist Martin Sharp, known for designing album cover art for Eric Clapton, can sell his $33 million home to the neighbouring Cranbrook, despite having expressed "animus" towards the prestigious private school, a judge has said.