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Ex-Aussie Home Loan boss can’t escape $1M ruling that he duped Adcock Private Equity
Securities 2019-04-17 2:45 pm By Christine Caulfield

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.

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Energy company director kicked off board for missing too many meetings files appeal
Corporate 2019-04-16 9:02 pm By Cat Fredenburgh

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.

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Commonwealth Bank told investors Sigma credit rating withdrawal a ‘technical’ issue
Class Actions 2019-03-21 5:04 pm By Cat Fredenburgh

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.

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Funder asks High Court to take another look at $64M Banksia settlement
Appeals 2019-02-27 11:15 pm By Cat Fredenburgh

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.

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Hastie liquidators offer to settle with builders over $124M in unpaid bills
Construction 2018-12-07 7:58 pm By Christine Caulfield

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.

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Ex-Aussie Home Loans CEO wins halt to $1M judgment for private equity firm
Financial Services 2018-11-23 11:30 pm By Cat Fredenburgh

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.

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Fitch expert challenged in investor class action over toxic CDOs
Class Actions 2018-11-23 5:37 pm By Miklos Bolza

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.

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Ex-Norton Rose partner asks judge to recuse himself from spat with firm
Employment 2018-11-05 8:34 pm By Christine Caulfield

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.

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Hastie liquidators pick two test cases over unpaid bills, but stay bid coming
Construction 2018-10-23 12:24 pm By Christine Caulfield

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.

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Judge faces possible DQ bid by fired Norton Rose partner
Employment 2018-10-04 2:58 pm By Miklos Bolza

A former employment partner at Norton Rose Fulbright may ask a Federal Court judge to recuse himself from a long-running dispute with the law firm, saying the judge’s previous comments had triggered a “reasonable apprehension” of bias.

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