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Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
Judges have power to make soft class closure orders, High Court says
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Resolving a split between courts, the High Court has confirmed that judges have power to make soft class closure orders, which require class action members to register before mediation to participate in any resulting settlement.
ANZ sues insurers for $117M in coverage for class action settlements
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ANZ has sued several insurers seeking coverage for two class action settlements totalling $117 million, plus defence costs, in cases stemming from the banking royal commission.
Law firm fined $50,000 over ‘repugnant’ work environment
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A Melbourne law firm has been hit with a $48,840 penalty in a case by a junior lawyer who was required to work over 200 hours in three weeks, including several days and nights spent working around the clock in a hotel.
Macquarie cops extra conditions for ‘repeated’ non-compliance
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The corporate watchdog has imposed additional conditions on Macquarie Bank’s financial services licence, citing multiple and significant compliance failures.
Treasury Wine settlement costs top $27M in no win, no fee class action
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Shareholders are set to pocket 58 per cent of a $65 million settlement in a class action against Treasury Wine Estates if the deal is approved by a court at a hearing this month.
BBC exec who alleged she was investigated for ‘top-down’ decision making drops suit
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A BBC Studios Australia executive who alleged she was the victim of adverse action and discrimination after she exercised her workplace rights has dropped her suit against her employer.
Parkview points finger at architect, surveyor in Australia Towers cladding claim
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Parkview Constructions is seeking to bring negligence claims against Bates Smart and McKenzie Group in a lawsuit over alleged combustible cladding at Australia Towers in Sydney Olympic Park.
Court rejects developer’s bid for extra time to settle $95M Hyde Park property deal
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A developer seeking to redevelop the site of the Hyde Park Inn has lost its bid for an extra 15 months to pay up over $95 million to the NSW branch of the RSL to settle the purchase, but a judge has handed it a win in the process for determining the final price tag for the deal.
Developer wins $200M in challenge to Sydney Metro compulsory land acquisition
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Coombes Property Group has been awarded $200 million in compensation for Sydney Metro’s compulsory acquisition of its CBD property, despite contending it was entitled to $430 million.