In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
A judge has ruled he will not consider a separate question on whether Acciona is barred from setting off any damages payable to Lendlease in a lawsuit over the $160 million sale of its engineering business.
A Canberra property developer that misled investors about GST on its apartments does not have to pay compensation to the lead applicant in a class action against it, an appeal court has found.
Two shareholders of failed steel giant Arrium have told the High Court that granting their bid to grill former directors of the company would not be an abuse of process because it was in the public interest to “expose” the management of the defunct business.
The NSW Court of Appeal has refused to grant Bianca Rinehart leave to appeal a decision staying a lawsuit against her mother Gina Rinehart over ownership of a $4 billion family trust.
The High Court has rejected special leave applications by mining magnate Gina Rinehart to appeal a ruling which only partially stayed a legal dispute over ownership rights and royalties relating to the Rinehart family-owned Hope Downs iron ore mine, with one judge calling the mining magnate’s arguments a “tortured articulation” and “very odd”.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.
Liquidators for collapsed steel and mining giant Arrium have successfully appealed a court ruling permitting the examination of a former director for a possible shareholder class action, with the Court of Appeal for the NSW Supreme Court finding the “private nature” of the claims was an abuse of process.
A judge has ordered the Rinehart family to enter mediation in their feud over a $4 billion trust, saying it was “overwhelmingly in the interests of the administration of justice” to seek an end to the long-running and bitter dispute.
A subpoena issued by the daughter of mining magnate Gina Rinehart seeking documents from Corrs Chambers Westgarth, the law firm representing her mother’s company, has been set aside by a judge, who found the material had no forensic purpose in the family’s long-running fight over a $5 billion trust.