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Herbert Smith Freehills has won a ruling that puts United Petroleum on the hook for the costs -- on an indemnity basis -- of the law firm's defence against a case that was, according to a judge Tuesday, "devoid of merit".
A director of an energy company who was kicked off the board of directors for missing too many meetings has lost a Federal Court challenge to his dismissal.
The judge presiding over two shareholder class actions against Murray Goulburn indicated Friday he would likely let both cases proceed jointly to a trial in 2020.
Shareholders in a class action against Sirtex Medical have lost a bid for an order preventing the life sciences company from quietly moving $128 million in cash assets out of the country after its $1.9 billion takeover by a Chinese private equity company comes into effect Thursday, but the battle over the money will likely continue.
The deputy chairman of the Australian Securities and Investments Commission, Peter Kell, has resigned just five months into a yearlong extension of his contract with the corporate watchdog.
ASIC has filed a lawsuit against ANZ alleging it breached its continuous disclosure obligations in relation to a $2.5 billion institutional share placement, which is also at the centre of a criminal cartel case against the bank.
A sought-after court order by organic baby food maker Bellamy's to limit legal costs in two class actions won't come without a fight, a barrister for the shareholders said Friday.
The corporate watchdog's dim view of proposals to regulate litigation funders got a mixed reaction from big players in the industry Thursday, with its position supported by foreign funders but frowned on by at least one home-grown firm.
Litigation funders should not be regulated by ASIC but by the courts, the corporate watchdog has told the Australian Law Reform Commission in response to proposals to overhaul the class action regime and subject funders to licensing requirements.
Accounting giant Deloitte is digging in for a fight over a court order to produce documents to a shareholder class over the firm's auditing of collapsed engineering company Hastie Group, saying partners forced to hand over the files don't have access to them.