A battle over expert evidence in an invester class action against Fitch Ratings has delayed this month’s scheduled trial in the case by three months and forced the court to send the parties’ experts into conclaves.
Former Aussie Home Loans boss Stephen Porges has lost an appeal of a judgment ordering him to pay more than $1 million to a private equity firm that was found to have been duped into buying his worthless shares in a beleaguered startup.
A director of an energy company who was kicked off the board for missing too many meetings has filed an appeal of a ruling dismissing his case over delays in complying with court requests after his lawyer from Maddocks withdrew from the case due to late payments.
The Commonwealth Bank of Australia, facing cross-claims by credit ratings agency Fitch in a class action alleging it gave false or misleading double A and triple A ratings to synthetic CDOs backed by Sigma Financial, told investors Fitch’s withdrawal of Sigma’s credit rating prior to the collapse of the $27 billion investment fund was a “technical” issue, the bank has admitted.
A litigation funder wants the High Court to review a court decision’s to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
Hastie Group’s liquidators have offered to drop their $124 million case against two dozen major builders if the companies agree to pay an undisclosed sum toward their unpaid bills, a court heard Friday.
Former Aussie Home Loan boss Stephen Porges has secured a temporary stay of a ruling that found he owed Adcock Private Equity more than $1 million for duping the firm into buying his worthless shares in a digital commerce startup.
An expert witness in an investor class action against Fitch Ratings over toxic financial products is no expert at all, the lead applicant told the court in contesting the admissibility of the expert’s evidence.
A Federal Court judge has been asked to recuse himself from a legal dispute between Norton Rose Fulbright and a former employment partner who was terminated from the firm.
Liquidators for the collapsed Hastie Group will pursue test cases against two construction companies in their legal fight against more than two dozen major builders over tens of millions of dollars in unpaid bills, but an application is looming to halt the proceedings pending the outcome of a High Court challenge.