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Class action settlements hit major milestones last year, with the year’s largest settlements totalling $1.6 billion and one case resolving for a historic $548.5 million.
Pointing to a pattern of non-compliance with his orders, a judge hearing a shareholder class action over the collapse of mining company Cudeco has expressed concerns about “significant" delays in the case.
Plus500 has lost its bid to permanently stay a class action by investors who lost money trading in highly leveraged financial products, with a court finding that the arbitration clause relied on by the online trader was unfair and void.
Construction PRO
A court has declined tenant Realside Rundle Square's bid for a hearing on a preliminary question concerning a term in its lease in proceedings against M3Property and a valuer alleging tenants of Adelaide's Rundle Mall have been overcharged for rent since 2006.
The ACCC has filed proceedings against home meal delivery giants HelloFresh and Youfoodz, seeking compensation for tens of thousands of customers who were allegedly charged a fee after cancelling their subscriptions.
The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.
Construction PRO
Advised by Johnson Winter Slattery, Morrison-managed investment fund Utilities Trust of Australia has bought out a Canadian pension fund for full ownership of the Sydney Desalination Plant.
A judge has called out the directors of failed Super Rugby club Melbourne Rebels for their “startling” inability to explain their case against the club’s administrators and the tax office.
ASIC has sued superannuation trustee Diversa for investing $300 million in retirement savings into Falcon Capital's failed First Guardian Master fund.
Facebook owner Meta has argued the Australian Competition and Consumer Commission has “misallocated responsibility” in its three-year-old case over scam cryptocurrency ads on the social media platform.