A judge has expressed concerns about the plaintiff’s proposed group costs order rate in a shareholder class action against fleet management company FleetPartners, saying the purpose of the GCO regime was to lower costs to group members.
A judge has signed off on a $16 million settlement in a class action against Dixon Advisory, but the funder of a competing case that was stayed after losing a beauty parade has earned a fragment of the $1 million it sought from the resolution sum.
Weeks after giving the thumbs up to common fund orders at settlement, the Full Federal Court has been asked to decide whether judges have power to order payment of a commission to class action solicitors — not just funders.
The High Court has denied a bid for special leave by the Commonwealth Bank and other lenders to challenge a ruling that found two Arrium directors did not mislead them about loan drawdown notices ahead of the steel company’s $2.8 billion collapse.
The judge overseeing a class action against collapsed investment manager Blue Sky has said he would not be inclined to seek clarity from the Full Court on whether the court has the power to make a solicitors common fund order unless one of the defendants raised a challenge.
A second law firm is likely to throw its hat in the ring to run a competing class action against Qantas over flight cancellations in the COVID-19 pandemic, but a judge has made orders trying to side-step a carriage fight, criticising them as “wasteful and expensive”.
A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.
The applicant in a class action against Blue Sky Alternative Investments and auditor EY has raised an “often overlooked” principle to challenge the separate legal representation of two of the company’s directors, dodging applications for almost $15 million in security – for now.
The insurers of Blue Sky Alternative Investments are fighting a bid to be joined to a consolidated investor class action against the company and its auditor, EY.
A judge overseeing a class action against Colonial First State Investments has raised concerns about a $655 million dividend to CBA, questioning whether group members’ recovery could be in danger.