Global resources giant BHP Group has asked the Full Court to rule foreign investors should be excluded from a shareholder class action over the 2015 Fundao dam disaster, arguing the class action regime only applies to those in Australia.
A mid-trial settlement has been reached in a lawsuit brought by the liquidators of collapsed steel giant Arrium against 10 former company directors and officers for allegedly engaging in insolvent trading.
Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.
The former group treasurer of collapsed steel giant Arrium has hit back at claims brought by the company’s liquidators that it was trading while insolvent, arguing the case had been ‘infected’ by evidence from an expert who was also a plaintiff in the case.
Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.
Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.
A Victorian barrister has reached a settlement on the eve of trial in a breach of fiduciary duty lawsuit brought by a former client who lost a court case over a $24.5 million real estate dispute.
A Melbourne law firm and barrister will soon face trial over allegations of breach of fiduciary duty brought by a former client who lost a lawsuit over a $24.5 million property joint venture.
Payouts in class actions in 2020 largely kept pace with the previous year despite the financial strain of the COVID-19 pandemic, with companies and other defendants paying more than $696 million to settle class actions last year.
BHP Group Ltd has appealed a ruling allowing foreign group members to be part of a shareholder class action against the mining giant over the Fundao dam failure in Brazil five years ago.