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Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly.
A judge has given the greenlight to a $10 million settlement with entities linked to late solicitor and Banksia class action mastermind Mark Elliott, noting the “perverse” difficulty of recovering more of the $70 million in assets held on trust.
Construction PRO
A court has appointed provisional liquidators to Melbourne developer Lion Property Group after hearing that $120 million of investor money was not properly accounted for.
Entities linked to the late solicitor Mark Elliott are set to pay $10 million to settle claims by Banksia class action members, despite a related company owning $70 million on trust, a court has heard.
Professional services giant KPMG has reached a settlement in a shareholder class action over the failure of mining company Cudeco.
A class action against KPMG and former Arrium directors wants to wait for the High Court's pending ruling on common fund orders before pulling the trigger on a group costs order, a request that earned a judge's grilling for what she described as a hunt for greener grass.
Are group costs orders a factor in deciding a bid to transfer a class action? Can the orders survive the move to an inhospitable state? These questions are to be decided by the High Court Wednesday, in a ruling that will clarify the relevance and reach of Victoria's contingency fee regime.
A judge has found a shareholder class action against water treatment company Phoslock and auditor KPMG should not bear the costs incurred by a competing case for preliminary discovery.
A transfer pricing pro who spent ten years as a partner at Baker McKenzie has rejoined the firm's tax practice after a stint in-house.
Construction PRO
The development management company behind the $2.7 billion STH BNK project, which was placed in administration last week, owes creditors -- including lawyers, consultants and designers -- over $100 million.