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Banksia mastermind to pay $10M to group members, despite $70M in assets
Class Actions 2025-06-26 11:41 pm By Cindy Cameronne

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. 

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Banksia receiver mulls release bid from case by class action members
Class Actions 2025-05-28 11:13 pm By Christine Caulfield

The receiver appointed a decade ago to claw back money for investors in failed Banksia Securities might seek the protection of a court order releasing him from proposed new proceedings, which would also target lawyers alleged to have breached their overarching obligations.

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Lenders for Bondi Junction property lose bid for break fee, KWM’s fees
Real Estate 2025-05-05 11:55 pm By Cat Fredenburgh

Lender WholeCap has lost its bid for a “break fee” and $430,000 in legal costs billed by King & Wood Mallesons associated with a term sheet for a proposed $66.1 million loan to a Harbour Land entity.

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Judge won’t bar case pursuing Banksia class action mastermind’s lawyers
Class Actions 2025-02-19 11:25 pm By Christine Caulfield

A bid by Banksia Securities’ special purpose receiver to thwart planned proceedings by a group of debenture holders against lawyers for the class action funder has failed.

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Lawyers for Banksia class action funder face possible court action
Legal Ethics 2024-12-18 11:28 pm By Christine Caulfield

The firm that represented the funder of the notorious Banksia class action faces potential proceedings by a group of debenture holders. Meanwhile, Banksia’s receiver wants a court direction that he is justified in not pursuing the lawyers.

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Telstra’s case stayed against family of employee accused of $3M theft
Telecommunications 2024-08-26 11:11 pm By Andy Sidler

Telstra’s case against two family members of a former employee accused of stealing millions of dollars in phones and other electronics has been paused pending the outcome of criminal proceedings, with a court finding the telco’s pursuit of proceeds of the alleged crime would prejudice the pair’s right to silence.

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Opal Tower class action funder’s appeal of cuts to commission falls flat
Class Actions 2023-05-12 11:13 pm By Cat Fredenburgh

An appeals court has shot down funder Augusta’s challenge to a decision that cut its commission in the Opal Tower class action, putting funders on notice that they will have to marshal compelling evidence to win approval for their returns from an increasingly watchful court.

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‘Potentially difficult’: Lawyers weigh in on novel insolvency ruling
Restructuring & Insolvency 2023-04-19 1:29 pm By Sam Matthews

Senior restructuring and insolvency lawyers have welcomed a novel ruling that found a liquidator was entitled to claim his costs ahead of the preferred claims of company employees, but questions remain about the “potentially difficult” interaction between two conflicting priority regimes.

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Judge says liquidator can be paid ahead of preferred creditors
Restructuring & Insolvency 2023-04-17 11:15 pm By Sam Matthews

In a novel decision, a judge has found that a liquidator is entitled to claim his “arguably disproportionate” costs ahead of the preferred claims of company employees.

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Opal Tower class members could do ‘simple arithmetic’, funder says in appeal of cuts to commission
Appeals 2023-03-14 10:25 pm By Sam Matthews

The funder in the Opal Tower class action has appealed a judge’s decision to slash its commission for not disclosing proposed deductions from the settlement sum as percentages, telling the Full Court that group members could do “simple arithmetic”.

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