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Construction PRO
An appeals court has relaxed freezing orders against Sydney property developer Golden Rain, allowing it to sell property to repay its debts while it defends a $26 million defects claim by the owners corporation of the Sugarcube Apartments and Honeycomb Terraces developments.
An initial investigation by law firm Allens that cleared KPMG over a whistleblower's allegations of misuse of confidential data has been slammed by parliamentary committee members as lacking independence.
Allens has welcomed a globally recognised climate change lawyer and her team of four to the firm, amid an expected uptick in greenwashing and directors' duty claims.
Construction PRO
A judge has allowed a 50 per cent fee uplift for counsel in an epic fight over lucrative tenements in the Pilbara region, but says the hourly fees of solicitors from the likes of Allens, Clayton Utz and Corrs were already well above market rate.
Logistics company Brambles has followed through on plans to challenge its landmark loss in a shareholder class action, setting the stage for further appellate court guidance in securities cases, which once routinely settled.
A judge says a shareholder class action against IAG can add a new damages claim, despite the insurer arguing it was untethered from any contravention and “clearly bad in law”.
Super trustee Diversa has denied it is liable for $300 million in alleged investor losses after it made the First Guardian Master Fund available on its platform, pointing the finger at responsible entity Falcon Capital, its directors and ASX-listed promoter Praemium.
Logistics company Brambles has lost its bid to pause costs orders while it prepares an appeal of the first post-trial win for a shareholder class action, while also flagging a bid to stay determination of group member claims.
Under pressure from parliamentary committee members, KPMG said late Friday it would waive privilege and hand over investigation reports from Allens and Ashurst, after initially resisting orders for documents.
A senator has criticised KPMG for claiming a commitment to transparency while also maintaining legal professional privilege over advice from Allens and Ashurst into the alleged misuse of confidential information.