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A judge has approved a common fund application in a class action against two IAG entities over add-on insurance said to be worth up to $1 billion, saying it was only fair to make all group members pay to fund the litigation.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.
Two units of global insurer Lloyd's have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.
Six individuals interviewed by ASIC in relation to the collapse of sandalwood producer Quintis have sought leave to intervene in the regulator's case against the company's founder, Frank Wilson, after he sought discovery from ASIC of interview transcripts.
Westpac will pay $13.25 million to settle a class action over alleged losses caused by subsidiary BankSA’s investments in a Ponzi scheme run by convicted fraudster Michael Samra.
The judge overseeing proceedings brought against logistics company GetSwift has refused the corporate regulator’s request for another year’s worth of documents, saying it could effectively require the company to start the discovery process over again.
The original solicitors who stepped down from leading a class action against Westpac unit BankSA amid abuse of process allegations will bring separate proceedings in the Federal Court seeking a bigger slice of the multi-million dollar settlement sum to cover their costs.
A judge has questioned a common fund application in a class action against two IAG entities over allegedly worthless add-on insurance, saying there may be a "degree of chaos" if the order was approved only to be undone by a pending High Court decision.
Law firm Quinn Emanuel Urquhart & Sullivan will push forward with an investor class action against failed engineering company RCR Tomlinson on its own, with two firms driving competing actions agreeing to step down after a judge forcibly consolidated all three proceedings.
Pitcher Partners has been ordered to hand over information about its professional indemnity insurance in two shareholder class actions over its role as Slater & Gordon's auditor.