A judge has awarded $43 million to National Australia Bank in its lawsuit against former directors of failed retailer Dick Smith, but threw out claims against company directors brought by HSBC and the retailer’s receivers.
A judge has approved a “disappointing” $25 million settlement in long-running class action litigation over the collapse of electronics retailer Dick Smith with claims worth hundreds of millions of dollars.
Six law firms are working on a consolidated trial of multiple class actions over the collapse of retailer Dick Smith, but when the trial opened in the NSW Supreme Court this week, a lone barrister appeared in court before Justice Michael Ball, amid a sea of empty bar tables. Most of the hearing’s participants joined through a virtual courtroom while members of the public were invited to watch the trial unfold on a YouTube live stream. Welcome to litigating in the age of the coronavirus.
The lead plaintiffs in two shareholder class actions against Dick Smith can amend their case against accounting firm Deloitte, less than two months before a mammoth hearing is set to commence.
There is a “reasonable chance” that two shareholder class actions against failed electronics retailer Dick Smith will settle by February of next year, group members have learned.
The funders behind two shareholder class actions against online fashion retailer Surfstitch Group will seek a commission of up to 30 per cent while the law firms that brought the cases will ask for approval of up to $6 million in legal fees during an upcoming settlement approval hearing, which also puts the fate of a deed of company arrangement that saved the company from liquidation on the line.
Accounting giant Deloitte Touche Tohmatsu will not face cross claims over the collapse of failed retailer Dick Smith when a hearing of three shareholder class actions kicks off in three months.
Justice David Hammerschlag of the NSW Supreme Court has a way with words that readily lends itself to dramatic courtroom headlines. The “Hammer,” as he is known, also pulls no punches and is quick with one liners that keep counsel on their toes. Here, Lawyerly looks at some of the recent best moments inside courtroom 7D.
A judge has ordered all proceedings against Dick Smith to be heard concurrently during a marathon three month trial, after the plaintiffs in a shareholder class action brought against the failed electronics retailer’s insurers aborted a fleeting bid to temporarily discontinue their case.
Two former Dick Smith directors targeted by dual class actions have expanded their case against Deloitte over the retailer’s 2016 collapse, saying if the company was found liable for shareholder losses then the auditor should be blamed for its shoddy work on the company’s financial statements during its float three years earlier.