A judge has raised serious concerns about the proposed commission by the funder behind a $90 million sham contracting class action against fundraiser Appco, slamming as “intuitively wrong” an arrangment that could leave group members pocketing less than half of any recovery.
Melbourne-based civic compliance firm SARB Management Group wants to put the brakes on a case brought by tech company Vehicle Monitoring Systems over a patented method for detecting vehicles, in a dispute it says was finalised in a settlement reached almost five years ago.
The applicants in the Iluka Resources investor class action have just 14 days to sort out their funding troubles and provide a $1.25 million security, as a judge warns he will not be able to hold their trial date any longer.
Mining firm MACH Energy may move to strike out “inconsistent” pleadings in a $20 million lawsuit brought by its former managing director, Scott Winter, whose discovery delays have raised the ire of the judge hearing the case.
The High Court has upheld an appeal by a mortgage broker with a history of run-ins with the law, finding that the Administrative Appeals Tribunal could not take spent convictions into account when reviewing ASIC ban orders.
IP Australia has rejected an application by Huawei Technologies to register the trade mark Nova after a challenge by radio giant Nova Entertainment, with a delegate finding the Chinese telecommunications company had failed to prove its intention to use the mark.
A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.
A court has thrown out a $75 million compensation claim filed by an investor in a Ponzi scheme alleging liquidator Grant Thornton Australia and its lawyers Colin Biggers & Paisley failed to return his funds expeditiously.
APRA has been ordered to hand over all of its correspondence with fellow regulator ASIC relating to former IOOF chairman George Venardos, as he prepares to argue privilege over discovery that might incriminate him in any possible ASIC proceedings.
The Bank of Queensland has criticised a judgment which found the bank’s insurance policy left it on the hook for a $6 million settlement of a class action brought by investors in a multi-million dollar Ponzi scheme by jailed fraudster Bradley Sherwin.