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A company owned by Clive Palmer is appealing a ruling that denied its bid to temporarily block funding for a class action over the troubled Coolum Palmer Resort.
A company owned by mining magnate Clive Palmer has lost its bid to temporarily block funding for a class action over the troubled Coolum Palmer Resort, with the Federal Court finding that special levies garnered from villa owners to back the proceedings were above board and legal.
A company owned by Clive Palmer has filed a lawsuit seeking to thwart a class action brought by villa owners in the billionaire's now abandoned Palmer Coolum Resort.
The Queensland Supreme Court has upheld the legality of litigation funding agreements in a landmark class action judgment that could have a ripple effect across other states in Australia.
The Queensland Supreme Court judge has refused to transfer proceedings by villa owners against Clive Palmer's abandoned Sunshine Coast resort to the Federal Court, but has also rejected a separate bid by Palmer to shut down the case, which has been dormant for six years.
A judge has refused to separately hear an application by a Clive Palmer-controlled company to wind up a time-share scheme at Queensland's Palmer Coolum Resort, describing the bid as an attempt by the company to avoid making admissions about its conduct, which allegedly resulted in the "death of the resort".
The Full Court has denied a bid by Deep Investments to vary orders dismissing its case against a solicitor and six others over $10 million in alleged share trading losses, saying this would amount to allowing the investment adviser to bring a different claim.