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National Australia Bank will be hit this year with an estimated $750 million in fines stemming from its fees for no service conduct and potential breaches of money laundering laws, analysts have predicted.
High Court’s Chorley ruling dooms Tucker & Cowen partner’s costs bid
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A court has slashed the costs awarded to a Tucker & Cowen name partner in a lawsuit brought by the liquidators of failed fund manager Equititrust, citing a recent High Court ruling that found self-represented lawyers cannot recover their own expenses.
Top 10 class action settlements of 2019
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Companies and other defendants forked over big sums last year to settle more than 20 class actions, with a total of at least $734 million being paid out. Here are the top 10 class action settlements and the law firms and funders that negotiated them.
Liquidators of failed broker Berndale Capital want to grill former execs
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The liquidators of Melbourne-based forex trader Berndale Capital have filed examination proceedings in the Federal Court seeking to question the company’s former CEO and its other directors.
Full Court says Oxworks wrongly awarded extra damages in patent suit
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The Full Federal Court has provided clarity around additional damages in patent cases by reducing the penalties liable to be paid by an Australian fencing and gate manufacturer found to have infringed a rival’s patent for a fence base.
Bankruptcy trustee can rip up agreement giving litigation funder 85%
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A court has allowed a bankruptcy trustee to drop an “extremely disadvantageous” litigation funding agreement, which provided the funder with an 85 per cent commission, previously signed to pursue a Perth-based engineering and construction company.
Elaine Stead hits Nine with defamation suit over Blue Sky coverage
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Elaine Stead, venture capitalist and former executive director of doomed fund manager Blue Sky Alternative Investments, has filed defamation proceedings against Nine-owned Fairfax over a series of articles criticising her role in the company’s collapse.
Judge OKs $29M settlement in Radio Rentals class action
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A judge has given his seal of approval to a $29 million settlement that resolves a class action over Radio Rentals’ Rent, Try, $1 Buy scheme alleging customers were kept in the dark about the true cost of their rentals.
Domino’s faces possible class action by franchisees
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A law firm bringing the second of two cases by franchisees against Domino’s Pizza is weighing a possible class action against the fast food giant.
High Court to weigh in on patent exhaustion in Seiko ink cartridge spat
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The High Court has granted special leave to cartridge reseller Calidad after the company lost an intellectual property dispute with printer giant Seiko Epson and was hit with a general injunction barring it from further patent infringement.