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An investor class action against failed advisory firm Linchpin Capital and its former directors has won its bid to claim its losses against a $10 million insurance policy from AIG.
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 former EY partner accused of pocketing $700,000 in secret commissions as part of a tax loss scheme has invoked privilege against exposure to penalty in a client’s suit.
ANZ has argued a sacked trader’s bid for discovery has turned into a “roving commission” of the bank’s culture in a lawsuit alleging the trader was terminated for complaining about the bank’s manipulation of the bank bill swap rate.
Contractor Kingfisher Mobile has dropped a claim against Telstra in a $45 million lawsuit alleging the telco breached a November 2022 contract when it engaged a new provider to take over.
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.
Telstra has won its bid to vacate a hearing in a case by former contractor Kingfisher Mobile seeking to bar the telco from migrating customers to a new mobile services provider, after a judge found Kingfisher’s delay in filing the case meant meeting the date would be unfair.
Telstra will oppose a bid by former contractor Kingfisher Mobile to bar the telco from migrating customers to a new mobile services provider, saying that undoing the move would be like “turning around the Titanic”.