Allens

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.

Law firm Allens has told a parliamentary committee that a court should weigh in on whether parliament's powers to compel information overrode KPMG's legal privilege, as the auditor resists orders to produce documents.

Sportsbet has been ordered to provide a class action with audit position papers from the tax office, as the applicants look to interrogate whether the ATO might exercise its discretion to refund Sportsbet's payments if the company loses the case. 

The Law Council says asserting legal professional privilege is not "inherently scandalous", ahead of a parliamentary hearing on KPMG's sharing ofclient information, at which law firms Allens and Ashurst are expected to stay mum.