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ANZ has sued several insurers seeking coverage for two class action settlements totalling $117 million, plus defence costs, in cases stemming from the banking royal commission.
Shareholders are set to pocket 58 per cent of a $65 million settlement in a class action against Treasury Wine Estates if the deal is approved by a court at a hearing this month.
Construction PRO
Rio Tinto has put down $75 million for Zanthus Resources' interest in the Yarraloola Iron Ore project assets in Western Australia's Pilbara region as part of a joint venture with Mitsui & Co and Nippon Steel.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.
Downer EDI subsidiary Spotless has rejected allegations it engaged in price-fixing with Ventia on defence contracts, saying the facilities services companies were not in competition with each other.
Generic drug maker Sandoz wants to shield information turned up by preliminary discovery orders from the eyes of Amgen patent attorneys in a spat over cheap versions of Amgen's bone disease drugs, and says if they view the material they should be barred from prosecuting future related patents.
Construction PRO
In the latest expansion of its energy, infrastructure and resources team, K&L Gates has lured the former co-head of Baker McKenzie's Australia energy group to join the firm.
Construction PRO
A stay of a $37 million 2023 judgment in favour of the company behind an abandoned $185 million development in Gosford NSW against the Australian arm of China's Shanxi Construction Investment Group has been extended.