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The Australian Competition and Consumer Commission is seeking a stay of an appeal by PT Garuda Indonesia while the airline’s $19 million fine May for engaging in cartel conduct remains unpaid.
Litigation funder throws off lawsuit seeking cut of $5M class action fee
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Lawfinance, formerly known as Just Kapital, has won summary dismissal of a lawsuit initiated by its founder seeking a piece of the funder’s $5 million cut of the $16.85 million Wickham securities class action settlement.
AMP says ‘patronising’ former GC did not expose fees for no service practice
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The former AMP general counsel who alleges she was bullied and sacked for complaining about the wealth manager’s fees for no service was not a whistleblower, but just one of many employees who raised concerns about the practice, the firm has said in a defence to the fired lawyer’s $2.7 million lawsuit.
Group members left with less than half of $18M UGL class action settlement
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UGL shareholders that signed up to a class action against the engineering company over disclosures related to its Ichthys power plant contract will get less than half of an $18 million settlement, even after the litigation funder takes a steep cut to its 30 per cent commission and the plaintiff’s firm caps its fees.
ACCC takes first shot at Google with location data lawsuit
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The Australian Competition and Consumer Commission has filed its first lawsuit against Google in the wake of its blistering digital platforms report, alleging the search giant misled users of its Android mobile devices about the collection and use of their location data.
Corrs Chambers Westgarth subpoena set aside in Rinehart family feud
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A subpoena issued by the daughter of mining magnate Gina Rinehart seeking documents from Corrs Chambers Westgarth, the law firm representing her mother’s company, has been set aside by a judge, who found the material had no forensic purpose in the family’s long-running fight over a $5 billion trust.
Funder to appeal landmark ruling on security in Fair Work class actions
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A litigation funder is planning to challenge a landmark Federal Court ruling that found for the first time that funders can be ordered to pay security for costs in Fair Work class actions.
ASIC hits IOOF with extra licence conditions to combat conflicts
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The corporate regulator has imposed additional licence conditions on wealth manager IOOF to combat conflicts of interest in the group’s business structure revealed by the banking royal commission.
ASIC wins appeal in Westpac ‘personal advice’ case
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The Full Federal Court has handed the Australian Securities and Investments Commission a win in a high-stakes appeal over what constitutes personal advice under financial services laws, finding Westpac violated its duty to act in its customers best interests through a superannuation rollover campaign.
Woolworths class action funder wants up to 35% of any recovery
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The funder backing a shareholder class action against Woolworths wants a 35 percent slice of any settlement or judgment in the $100 million case, according to its agreement with the applicants.