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A court has granted the corporate regulator leave to proceed with a lawsuit against collapsed advisory firm MWL Financial for advising clients to invest $114 million in their super into Keystone’s failed Shield Master Fund.
Delivering his findings on ASIC’s action against Star Entertainment executives on Thursday, Federal Court Justice Michael Lee remarked that the “self-congratulatory submissions" of former board members named in the case were "jarring”.
In finding Star Entertainment's former group general counsel liable for breaches of duty, the judge overseeing ASIC's case has questioned the chief lawyer's insistence that she "rarely gave legal advice" and that her roles with the company should be delineated.
Construction PRO
The reluctance of Pacific Werribee Shopping Centre co-owner Wadren to withdraw a non-compliant expert report in a $356 million defects case against the collapsed Probuild has raised the hackles of the presiding judge.
ASIC has had mixed success in a case against former Star directors and officers, with a judge finding the casino operator’s former CEO and GC breached their duties but that claims against the former board fell short.
Construction PRO
A court has rejected a bid to apportion costs by Downer after it found ICC arbitration proceedings the company brought against Squadron were invalidly commenced, saying the engineering company had lost on the core issue in dispute.
The Federal Court has cautioned self-represented litigants against using generative artificial intelligence to decide whether their case has merit, saying it is "not reliable for legal help”.
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.
In the latest chapter of a bitter feud between NSW Director of Public Prosecutions and District Court Judge Penelope Wass, the state's Court of Appeal has found parliamentary privilege doesn't bar the top prosecutor from launching a recusal bid in a criminal trial.