Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.
Professionsal services giant EY has added to the many cross-claims flying in the shareholder class action against Pitcher Partners over advice to law firm Slater & Gordon, and has alleged the accounting firm engaged in misleading or deceptive conduct and negligence and that it breached its retainer.
The ACCC’s cartel case against family-owned crane company NQCranes suffers from ‘incoherence’, the company’s counsel told the Federal Court on Monday ahead of an application to strike out a large portion of the regulator’s case.
A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.
Two insurance brokers have dodged being dragged into class action proceedings against sandalwood producer Quintis to boost a settlement reached last year, as a fight over insurance owed to the company to cover the settlement continues.
A judge has shot down an attempt by former Johnson Winter & Slattery clients to secure records of phone calls by their solicitor to corroborate claims the lawyer repeatedly advised them to ignore a settlement offer in a commercial case they later lost.
A Victorian Labor MP accused of branch stacking has attacked the charges against her as invalid, telling the Victoria Supreme Court that they were brought under “shocking” and “draconian” party rules implemented in the wake of a controversial report on Nine’s 60 Minutes.
GetSwift has been criticised for its “quite unfair attack” on a Federal Court judge who refused to disqualify himself from hearing a shareholder class action against the logistics software company after presiding over ASIC’s civil penalty proceeding against the company.
The directors of steel giant Arrium, which collapsed owing $4 billion in debts, should have known earlier that the company was in a “liquidity crisis” and was trading while insolvent, liquidators for the company allege.
Counsel for Queensland-based NQCranes has lashed out at the ACCC for seeking to amend its cartel action against the crane company, telling a court the regulator had been warned for months that the case was deficient.