The founder of beleaguered investment group Mayfair 101, James Mawhinney, has argued that multiple law firms failed to advise him of the privilege against self-exposure to penalty in proceedings brought by the corporate regulator, which saw him banned from soliciting funds or promoting any financial product for 20 years.
An Australian food and drink importer has been permanently banned from falsely using the words ‘Scotch’ and ‘Scotch Whisky’, after being sued by The Scotch Whisky Association for “flagrant” copyright infringement.
The first ever amicus appointed in a fight over the wording of an opt out notice in a class action has told a court a proposed novel funding model in a case against retirement home provider Aveo Group could be a “nightmare scenario” for certain group members.
The Full Federal Court has dismissed former Blue Star Helium CEO James Cruickshank’s challenge to a $40,000 penalty and four-year ban for failing to disclose to shareholders the identity of the buyer behind a botched sale of Texas oil assets.
The federal government said Friday it would consider the implications of an appeals court’s finding that the managed investment scheme structure was unsuited to class actions, a ruling it said was a victory for ordinary Australians and a vindication for Labor.
The ruling by the Full Federal Court that funded class actions are not managed investment schemes marks the end of an ill-considered regime enacted by the Morrison government to rein in class actions, but the debate over regulation of litigation funders is not over yet.
In a significant victory for litigation funders, the Full Federal Court has found that funded class actions are not managed investment schemes subject to regulatory oversight, gutting the legal basis for reforms enacted by the Morrison government in 2020.
A judge has given his approval to the takeover of Crown Resorts by US private equity group Blackstone.
Mayfair Group’s James Mawhinney has given an undertaking to not contact group members in a class action against a trustee of the collapsed IPO Wealth fund after allegedly urging investors, through a PR firm, to reject a settlement offer.
Investors in Mayfair Group’s collapsed IPO Wealth Fund stand to recoup “a lot less” than their alleged $67 million in losses from a settlement in a class action alleging the fund’s trustee misled the unit holders — but they will take home 75 per cent of the resolution sum, a court has heard.