The approval of a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG has been postponed to allow time to notify creditors and unitholders that they won’t see a cent, an outcome the judge called “a long way from litigation in any traditional sense”.
The High Court of Australia has resolved a nearly 40-year old question of whether employees of a failed company established as trustee of a trading trust have priority over ordinary unsecured creditors.
The potential source of alleged “industrial espionage” in Motorola’s case against Hytera over the intellectual property for its digital radio mobile devices has been revealed as a mystery woman with two laptops that contained a “very large number of Motorola documents”, a court has heard.
A court has heard a former HWL Ebsworth property lawyer admitted to errors in a due diligence report missing crucial flood risk information that is at the centre of a trial over a $28.5 million sale of Crown-owned land in Sydney.
The Australian Securities and Investments Commission has asked a court to impose penalties of up to $36 million on an AMP subsidiary for failing to take reasonable steps to stop its representatives from churning life insurance policies.
Israeli drug giant Teva and German drug maker Boehringer Ingelheim have settled their dispute over a patented capsule used to deliver the medicine in Boehringer’s top-selling inhaler Spiriva.
ANZ Bank will not pay a cent to franchisees in its settlement of two class actions that allege the bank breached its responsible lending obligations and engaged in unconscionable conduct by giving loans to purchasers of 7-Eleven franchises.
A Sydney-based plastic surgeon has been given another chance to fix “fundamental problems” in its copyright case against the ABC or using pictures of him in an article about a woman whose breast reportedly exploded after receiving breast augmentation surgery from him.
A judge overseeing a trial in a class action over the Montarra oil spill has ruled it necessary for Indonesian seaweed farmers to use the word “oil” in their evidence, after oil company PTTEP tried to argue they were not qualified to identify the substance.
A judge has baulked at an application by labour hire company Chandler Macleod and BHP unit Mt Arthur Coal seeking security for their legal costs in two casual worker class actions, saying Fair Work cases were not the same as shareholder class actions.