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A judge has approved a $67 million settlement in a class action against QSuper but has trimmed the payout for the litigation funder, criticising it for a "brazen and unjustified" deduction that was dropped during the hearing.
Former NAB super fund trustee NULIS Nominees was able to charge $165 million in fees for paying adviser commissions after conflicted remuneration was banned in 2016, an appeals court has ruled.
Construction PRO
A developer linked to Keystone Asset Management has failed to persuade the Full Federal Court to exempt three family trusts from a $158 million freezing order.
The Full Court has found an employee of e-commerce merchandise importer New Aim breached his duty of confidence by providing contact details of the company's suppliers, stored on WeChat on his personal phone, to a competitor.
A contradictor has recommended the court trim $3 million from a funder's cut of a $67 million settlement in a class action against QSuper, saying the court should not allow 'double dipping' given the funder was shielded from some risk by ATE insurance.
A judge has approved a $50 million settlement in a class action against ANZ and superannuation trustee OnePath, but has slashed by half a proposed $1.76 million deduction for the plaintiff firm's after-the-event insurance.
In a class action over alleged faulty plumbing pipes produced by Fletcher Building's Iplex, construction company BGC told a court Friday it had been overwhelmed by calls for repairs to the 7,000 Perth homes fitted with the pipes.
Developer Robert Filippini, who is suspected of fraudulently receiving investor money from defunct Keystone Asset Management, is seeking to appeal an extension of freezing orders over family trusts that hold property and several luxury cars.
The Full Federal Court has tossed Tabcorp’s appeal of a finding that it is not entitled to a $1.49 billion tax deduction under rules governing the taxation of financial arrangements.
The law firm and funder behind the settled class action against QSuper will seek almost $31 million in costs and commission at an upcoming hearing.