Arnold Bloch Leibler

A judge has expressed worries that a class action against EY and collapsed Blue Sky Alternative Investments is “drifting” amid concerns from the defendants about "indulgent" discovery and potentially “significant” pleading changes.

Arnold Bloch Leibler and a litigation partner at the law firm are among defendants named in a new case for their representation of the mastermind behind the scandal-ridden Banksia Securities class action.

Auditor KPMG has hit back at a shareholder class action over water treatment business Phoslock’s alleged accounting irregularities, saying it should be completely relieved from paying damages since it acted honestly. 

A judge has said ASIC should have known that its case against four TerraCom directors over statements made to investors had no prospects of success, calling one of its submissions “unworthy of the corporations regulator”.

The administrators of the company claiming to own the Whyalla Port have more time until a second creditors meeting to investigate a proposed DOCA as well as a $1.3 billion proof of debt served by Whyalla steelworks operator OneSteel.

A judge has approved a $43 million settlement in a class action action alleging Noumi misled investors about its inventory, including a 22 per cent group costs order to be split between the two law firms that ran the case.

A judge has dismissed applications by mortgage broker Lendi Group and insurer ALI Group to declass a group proceeding over allegedly worthless mortgage insurance, saying it would be more efficient for the claims to advance as a class action. 

Real estate asset manager Dexus will cover the legal costs of shareholders whose stake in Australia Pacific Airports Corporation hangs in the balance, as it reveals a $55 million book value increase.

ASIC has told a court that a PwC report into allegations of inaccurate coal pricing found that 12 “inconsistent” invoices issued by TerraCom resulted in a $1.15 million benefit to the company, contrary to the company's claim that the audit found no wrongdoing.

A judge has stayed engineering firm Clough’s $54 million cross-claim against its former joint venture partner on the EnergyConnect transmission project, Elecnor, saying the claim must be sent to arbitration.