The former directors of defunct financial advisory firm Storm Financial have failed in their appeal of a ruling that found they breached their duties to eleven vulnerable investors by providing a one-size-fits-all model of investment advice that was inappropriate.
As the number of cases of coronavirus continues to rise and more people work from home, lawyers are predicting a jump in workers’ compensation claims, with 57 claims or notifications already lodged in NSW.
A judge has criticised as “meretricious” and “ridiculous” opposition by Commonwealth Bank of Australia to a discovery application by a former general manager who claims he lost his job for blowing the whistle on alleged manipulation of staff bonuses.
The lead applicants in two class actions against 7-Eleven are considering bringing a contempt of court motion against the convenience store giant after the Full Federal Court derailed their challenge to prior orders allowing the company to seek litigation releases from franchisees.
With new lockdown measures being rolled out on a daily basis to combat COVID-19, vast numbers of Australians have found themselves working from home, many for the first time. As employers and staff scramble to set up makeshift home offices and navigate the world of video conferencing, lawyers are reminding their clients not to forget the legal risks that come with remote working.
The Federal Court is pushing ahead with an expedited trial in Icon Co’s case against Liberty Mutual Insurance and QBE over the Opal Tower disaster, just one month after originally scheduled, and it’s going online to do it.
A judge has ordered ASIC to wait 48 hours after making any decision to send a warning notice to investment conglomerate Mayfair 101 before publicly issuing the notice, despite the regulator’s call for urgent action amid the COVID-19 pandemic.
After almost five years of litigation, a Federal Court judge said he will approve a $127.1 million settlement of five class actions against Volkswagen over the diesel emissions scandal, but appeared unwilling to sign off on a 25 per cent uplift in fees sought by one of the plaintiffs firms.
After insisting that employees remain working in the office despite tough government restrictions to combat the spread of the new coronavirus, HWL Ebsworth has changed its tune, saying any lawyer wishing to work remotely could now do so, and would be paid as usual.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.