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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.
Meriton has withdrawn its appeal of a ruling that fined the property manager $3 million for manipulating bad reviews on TripAdvisor.
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.
A subsidiary of building materials giant Boral was fined $30,000 Wednesday after threatening to sack its entire workforce for voting down proposed changes to an enterprise agreement to comply with the building watchdog's code.
Broadcaster Alan Jones and two radio stations have been ordered to pay $3.75 million for defaming a prominent Queensland family by blaming them for the deaths of 12 people in the 2011 Grantham floods.
An international IP dispute between the Royal Australian Mint and its Canadian counterpart over a patent for printed commemorative coins has settled, three months after Australia revealed its "knockout claim" in the case.
The $92 million payout to two funders that financed the recently settled S&P Global class actions shows the need for continued scrutiny of litigation funding agreements, experts say, but whether it is a sign of windfalls to come or is a ghost of commission's past is another question.
A Federal Court judge on Monday held off on approving Westpac's $35 million settlement with the corporate watchdog over responsible lending law breaches, saying the amount seemed too high.
Plaintiffs law firm Slater & Gordon is considering a class action against gynaecologist Dr. Emil Gayed, who was found guilty of professional misconduct after patients complained of undergoing unnecessary surgery and not giving informed consent to procedures.
Facing the possibility of more class actions related its use of allegedly toxic firefighting foam at military bases throughout Australia, the Commonwealth has turned to one of the country's largest firms for its defence in the two most recently filed cases.