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A judge has allowed investors bringing a class action against Virgin to join Velocity Rewards to the case, despite finding the proposed claims against the frequent flyer program are “barely arguable”.
A class action against Virgin Australia wants to drag Velocity Rewards into the case, claiming the frequent flyer program was involved in misleading investors about $460 million in funds on Virgin’s balance sheet.
A judge has rejected arguments that Virgin Australia waived legal professional privilege over advice from Herbert Smith Freehills by claiming in a class action defence that it had a reasonable belief that statements in a prospectus for a $324 million capital raising were not misleading.
A judge has ordered a litigation funder bankrolling an investor class action against Virgin Australia to show evidence it can meet a $10 million agreed indemnity with the airline, saying it was not being transparent about its financial position.
An investor class action against Virgin Australia has mounted a new challenge to a contentious indemnity clause, which the airline claims entitles it to receive periodic payments for its legal costs in defending the claims.
The judge hearing a bondholders class action against Virgin Australia has deferred the resolution of the airline's cross-claim seeking seeking periodic payments from the class action to cover its costs under a contentious indemnity clause.
A bondholder class action against Virgin is heating up, with the airline filing a cross-claim seeking the court’s approval to demand periodic payments from the applicant to cover its costs under a contentious indemnity clause.
A judge has approved a $50 million settlement in a class action against the Commonwealth Bank over allegedly worthless consumer credit insurance after his concerns about a $2.5 million deduction for Deloitte were allayed.
A class action against Virgin Australia has become a lawyers’ feast, with seven new firms entering the ring after a dozen insurers were joined to the action alleging the airline failed to disclose its true financial position in a $324 million capital raising prospectus.
ASIC has lost its challenge to findings that a revenue sharing arrangement between the Commonwealth Bank of Australia and former subsidiary Colonial First State Investments did not breach conflicted remuneration provisions of the Corporations Act.