A shareholder of struggling gold company Orinoco Gold has been granted limited access to the company’s books after the firm was placed into administration on the back of an abysmal year on the ASX which saw it share value plummet by more than 97 per cent.
A judge has shot down a bid by class action applicants to block 7-Eleven from seeking litigation releases from franchisees on contract renewal, saying there was no evidence the convenience store giant had acted unlawfully.
The Australian liquidator of Lehman Brothers has filed a lawsuit seeking $40 million from Fitch Ratings for assigning too-rosy ratings to toxic financial products sold by the bank, following the discovery of a hidden table in Fitch’s rating model by the lawyers leading a now-settled class action against the accounting firm.
The judge overseeing the settlement approval process in multiple class actions against Volkswagen over the diesel emissions scandal has criticised an application for a common fund order by the funder backing two Bannister Law-led lawsuits.
CBA subsidiary Avanteos Investments Limited has been hit with extra conditions on its superannuation licence by the Australian Prudential Regulation Authority after it was revealed the investment management firm charged fees to thousands of deceased superannuation members.
Westpac has filed a special leave application with the High Court seeking further clarity on the line between personal and general advice under financial services laws, after an appeals court handed ASIC a significant win in finding the bank violated its duty to act in its customers’ best interests during a superannuation rollover campaign.
A former general manager who is suing law firm Atanaskovic Hartnell for alleged bullying and faces cross claims that she failed to satisfactorily perform her job was offered a part-time role with the firm after resigning, despite being “grossly negligent”, a court has heard.
US biotech giant Gilead has struck back at a patent infringement lawsuit brought by a specialist HIV pharmaceutical company majority owned by GlaxoSmithKline, saying the patent at the centre of the lawsuit is invalid.
Petrol station convenience store chain On The Run is facing a possible class action over allegations that it has underpaid employees at over 145 stores throughout South Australia.
The head of Australia’s largest unlisted insurance broker, Coverforce, may face a future damages claim for misleading or deceptive conduct if a recent acquisition of former Suncorp unit Resilium is not reversed, a court has found.
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