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Sophie Grace settles $15.4M lawsuit over Gallop collapse
Business of Law 2022-07-26 1:17 pm By Cat Fredenburgh

Law firm Sophie Grace has settled a lawsuit brought by collapsed forex broker Gallop International Group claiming its failure to ensure the company complied with its obligations as a holder of an Australian financial services licence led to $15.4 million in investor funds being loaned to the company’s director in Hong Kong.

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PwC partners knew of unlawful dividend payment to Cornerstone director, court told
Professional Negligence 2022-07-22 9:55 pm By Cindy Cameronne

PwC partners are facing “very serious” allegations that they had actual knowledge that a $30 million dividend payment to the director of now defunct tertiary education provider Cornerstone was unlawful.

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Pitcher Partners looks to shut down $128M Twigg family lawsuit
Professional Negligence 2022-07-22 8:48 pm By Cindy Cameronne

Accounting firm Pitcher Partners wants to shut down a lawsuit brought by the Twigg family alleging it helped race car driver Max Twigg misappropriate $127.8 million in family trust money for himself.

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SMBC sues Humm for $34M in worthless receivables linked to Forum Finance
Competition & Consumer Protection 2022-07-21 9:50 pm By Cindy Cameronne

Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.

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Wrong plaintiff, wrong defendant: Payton Securities unit loses professional negligence case
Professional Negligence 2022-07-15 11:58 pm By Sam Matthews

Investment manager Payton Securities has lost a bid to recoup claimed losses over $1.4 million stemming from an allegedly negligent property valuation by Bertacco Ferrier, with a judge finding that the company had not retained the valuer and was not a party to the valuation.

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Law firm wins access to client talks with counsel in negligence case
Professional Negligence 2022-06-28 1:43 pm By Sam Matthews

Mitry Lawyers has won a discovery bid against a former client suing the Sydney law firm for $225,000 over alleged “neglect and incompetence.”

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Law firm fends off appeal in spat with ex-client over $24.5M development
Professional Negligence 2022-06-27 11:21 pm By Christine Caulfield

Rigby Cooke has prevailed in an appeal by a former client that challenged a ruling for the law firm over a $24.5 million East Melbourne development.

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Sparke Helmore had paralegal ‘at the helm’ of botched land sale, court told
Real Estate 2022-06-21 10:08 pm By Cindy Cameronne

Law firm Sparke Helmore negligently failed to alert a NSW developer to an imminent deadline for two land sale contracts in a troubled $30 million development because a paralegal, rather than a solicitor, was “at the helm”, an appeals court has heard.

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Former Maddocks’ client cops grilling in appeal of landmark damages
Professional Negligence 2022-06-21 9:30 pm By Sam Matthews

An appeals court has questioned the financial forecasting that underpinned a $13 million award of damages to a former client of Maddocks in a suit over negligent legal advice that allegedly led to a botched sale and administration.

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Maddocks fights $13M judgment, says negligence was ‘marginal’
Professional Negligence 2022-06-20 9:42 pm By Sam Matthews

Appealing a $13 million damages judgment for negligent advice to a former client that allegedly led to a botched sale and administration, law firm Maddocks told a court Monday the business had “miniscule” chances of surviving even if the sale had been successful.

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