The approval of a settlement between the liquidators of failed fund manager Equititrust and auditor KPMG has been postponed to allow time to notify creditors and unitholders that they won’t see a cent, an outcome the judge called “a long way from litigation in any traditional sense”.
The High Court of Australia has resolved a nearly 40-year old question of whether employees of a failed company established as trustee of a trading trust have priority over ordinary unsecured creditors.
The law firm running a cartel class action alleging manipulation of foreign exchange rates by five global investment banks is teaming up with the same lead applicant that represented group members in the price-fixing case against major international airlines.
Law firm Quinn Emanuel Urquhart & Sullivan has followed through on its threat to appeal a high stakes ruling that shut down its shareholder class action against AMP, along with two competing cases, after a two-day beauty parade that saw rival firm Maurice Blackburn take the prize.
The potential source of alleged “industrial espionage” in Motorola’s case against Hytera over the intellectual property for its digital radio mobile devices has been revealed as a mystery woman with two laptops that contained a “very large number of Motorola documents”, a court has heard.
A judge has partly sided with a former Mills Oakley client in his challenge to a costs ruling in a saga over $25,000 in unpaid fees, saying the law firm’s arrangement with a debt management company that kept the client in the dark about the consequences of default was “regrettable”.
A court has heard a former HWL Ebsworth property lawyer admitted to errors in a due diligence report missing crucial flood risk information that is at the centre of a trial over a $28.5 million sale of Crown-owned land in Sydney.
The Australian Securities and Investments Commission has asked a court to impose penalties of up to $36 million on an AMP subsidiary for failing to take reasonable steps to stop its representatives from churning life insurance policies.
The Australian Competition and Consumer Commission has told the court there’s “at least a real chance” TPG will resume plans to roll out a 5G mobile network after its earlier plans were thwarted by the government’s ban on the use Huawei technology, as the regulator defends its decision to block the proposed $15 billion tie-up between TPG and Vodafone.
Israeli drug giant Teva and German drug maker Boehringer Ingelheim have settled their dispute over a patented capsule used to deliver the medicine in Boehringer’s top-selling inhaler Spiriva.
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