Law Firms

A judge has found a director of defunct IT company Novo breached his duty to prevent the company from trading while insolvent, but has stopped short of ordering damages, or making findings he breached other duties.

The director of collapsed builder Shangri-La Construction wants to expand his defence in a suit over allegedly flammable cladding installed in a Melbourne building to argue a funding agreement with an owners corporation was not valid because nearly a quarter of owners abstained or voted against it.

The funder behind a class action against the operator of Gladstone Port has bowed out after spending $30 million on the case, and is weighing proceedings to recover its sunk costs from the law firm that initially ran the litigation.

Martinus Rail has won its fight against grain supply chain Co-operative Bulk Handling over a $23 million payment claim for building a rail siding in WA, with a judge finding that the deadline for responding to the claim began running from a Saturday.

ANZ has agreed to pay $240 million in penalties to resolve four separate cases by the corporate regulator, including a record $80 million penalty for unconscionable conduct in its dealings with the federal government. 

AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.

NSW government-owned utility Hunter Water has been ordered to pay $1.2 million in damages to 118 owners in a townhouse block in Newcastle for flooding caused by a burst water main. 

Developer Belmore 88 has successfully opposed discovery sought by HWL Ebsworth, after arguing its former solicitor was on a “fishing expedition” in a case by investors who claim they are both liable for lost money in connection with developments in western Sydney. 

A judge has ordered Facebook owner Meta to file its defence in the Australian Competition and Consumer Commission’s three-year-old case over scam cryptocurrency ads on the social media platform. 

Facing allegations that it misused its market power with major retailers, Mastercard is challenging a ruling for the ACCC that lays bare discussions about merchant agreements involving inhouse lawyers.