The High Court has unanimously found the Federal Court has no power to allow solicitors to take a cut of a settlement or judgment in a shareholder class action against Blue Sky, saying it would be contrary to rules against contingency fees in NSW.
Private equity firm Goldstone has lost its bid to lodge an appeal before damages are determined, after a judge found it invalidly terminated its managing director’s employment for standing in the way of a deal with her business partner’s son.
Private equity firm Goldstone has cited an “irretrievable breakdown” in the relationship between shareholders in seeking to appeal a ruling that found it liable for oppression.
The liquidator of six companies linked to the nephew of former Nudie Juice founder Andrew Binetter has secured approval for a settlement in a case over the fallout of a massive tax evasion scheme.
A private equity fund is challenging a ruling that it acted in an “oppressive” and “unfairly prejudicial” way towards its managing director, who a judge found was invalidly sacked for standing in the way of a deal with her business partner’s son.
As the High Court hears oral arguments this week on the reach of power to make common fund orders for firms and funders bringing class actions, Lawyerly gives a cheat sheet on what the justices could do.
Callide Energy has failed in a courtroom bid to block the sale its partner’s interest in the joint venture for the construction and operation of Queensland’s Callide power station.
The High Court has agreed to rule on whether common fund orders can ever be made in class actions, including so-called solicitors’ common fund orders allowing lawyers to earn a cut of any settlement.
If it takes up the Federal Court’s ruling in favour of solicitors seeking to earn a cut from a class action, the High Court will be asked to overrule its 2019 decision against common fund orders.
Michael Hill has won its challenge to a decision that found the jewellery retailer breached an exclusivity clause and minimum order requirements in a sales agreement with a packaging supplier.