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‘Not how litigation works now’: Class action over Quintis audit fights EY’s bid to silo expert
Class Actions 2022-08-11 11:26 pm By Cindy Cameronne

A shareholder class action against Ernst & Young over its alleged inflation of assets owned by sandalwood producer Quintis has argued the accounting firm should be allowed only one expert witness, who should collaborate with a competing expert chosen by the investors.

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Virgin says funder’s $5M security in investor class action ‘unsatisfactory’
Class Actions 2022-08-08 2:10 pm By Cindy Cameronne

Virgin Airlines has argued a litigation funder’s indemnity for its legal costs is not enough for it to bring a class action on behalf of bond holders over a 2019 prospectus, claiming the airline expects to spend more than $5 million defending the proceedings.

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A ‘futile exercise’: Palmer, McGowan win chump change in costly defamation battle
Defamation 2022-08-02 2:44 pm By Sam Matthews

A court has awarded Western Australia premier Mark McGowan and mining billionaire Clive Palmer paltry sums in their defamation battle, with a judge finding that Palmer suffered “very little damage” to his reputation.

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Mazda’s conduct not just ‘appalling customer service’ but unconscionable, ACCC says
Competition & Consumer Protection 2022-08-02 11:37 pm By Christine Caulfield

A judge was wrong to find that Mazda’s treatment of customers with faulty vehicles was appalling but not unconscionable, and nowhere in his ruling is there an explanation for the distinction, the consumer regulator has told an appeals court.

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SMBC sues Humm for $34M in worthless receivables linked to Forum Finance
Competition & Consumer Protection 2022-07-21 9:50 pm By Cindy Cameronne

Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.

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Forum Finance director to get $1.25M for legal funds, despite ‘Byzantine’ financials
Financial Services 2022-07-20 10:35 am By Sam Matthews

Bill Papas’ business partner Vince Tesoriero has won the release of $1.25 million to pay for his legal fees in Westpac’s fraud case against him, despite a judge’s finding that disclosure concerning his true financial position was “less than ideal” and included “staggering” discrepancies.

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Forum Finance director failed to disclose $150,000 in assets to court
Financial Services 2022-07-19 5:40 pm By Sam Matthews

Forum Finance director Vince Tesoriero has been caught out for failing to declare over $150,000 to the court, as he took the stand to defend evidence given about his financial position in Westpac’s fraud case against him.

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Izuzu targeted in class action investigation over allegedly defective utes
Competition & Consumer Protection 2022-07-19 5:22 pm By Cat Fredenburgh

The law firm whose probe into allegedly defective diesel particulate filters in Toyota cars has led to a verdict worth as much as $2 billion against the car maker has launched a class action investigation into diesel particulate filter issues with two models of Isuzu utes.

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Class action over COVID-19 jab mandate ‘legally misconceived’, judge says
COVID-19 2022-07-13 5:47 pm By Sam Matthews

A judge has dismissed a proceeding against the New South Wales government over a mandate requiring healthcare workers to be vaccinated against COVID-19, saying the applicant’s constitutional case was “legally misconceived and must be rejected.”

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ASIC seeks $15M penalty against GetSwift after ‘unprecedented’ offshore move
Securities 2022-07-12 11:01 pm By Cindy Cameronne

ASIC has called for a $15 million penalty against GetSwift and 12-year bans against its directors, who moved the logistics company overseas as the regulator’s enforcement action was on foot, a move the court on Tuesday said was “unprecedented”.

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