Russells

The directors of payday lenders Cigno and BSF have filed for special leave to appeal a decision that found them liable for unlicensed credit activity, saying the case raises fundamental questions about the scope of accessorial liability.

Atlantic Nickel has lost a challenge to further amendments to a case by failed suitor Mining Services International that alleges it lost the opportunity to purchase a Brazilian mine now valued at over $1 billion.

Payday lenders BSF Solutions and Cigno have lost an appeal in action by ASIC alleging they engaged in unlicensed credit activity and charged prohibited fees, in the case's second run up to the Full Federal Court.

Two Australian companies who held all the shares in Mirabela Mineração do Brasil’s main asset, the Santa Rita Mine, have successfully argued that a contract variation and their subsequent termination of the sale contract was lawful, in spite of their Brazilian counterparts' late signature. 

Russells has hit back at a former lawyer's claims that she was bullied by a partner, saying in its defence that the partner told the lawyer she came across as “very negative and unwilling to engage”.

ASIC has attacked an appeal argument by payday lenders BSF Solutions and Cigno that athough they offered short-term loans, the fees they charged had no link to the credit services.

A former senior associate at Russells has sued the Brisbane law firm, alleging she was dismissed after she complained of bullying by a partner.

Law firm Russells has won a bid for further security against former clients in a negligence case over its handling of a shareholder suit against iron ore miner Macarthur Minerals.

The receivers for funds manager Equititrust, who are suing the name partners of law firm Tucker & Cowen, have failed in their bid to have further security for costs paid in the form of deeds of indemnity, despite telling the court that funder Vannin might withdraw its support for the litigation.

The High Court has denied a special leave application by the former directors of defunct financial advisory Storm Financial, after the Full Federal Court upheld a ruling finding they had breached their duties to eleven vulnerable investors by providing an inappropriate, one-size-fits-all model of investment advice.