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A litigation funder wants the High Court to review a court decision’s to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
Lundbeck earned $51.7M in settlements with generic makers over Lexapro patent
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Danish pharmaceutical giant Lundbeck secured $51.7 million in settlements to end infringement litigation with three generic makers over its patent for the top-selling Lexapro, the company has revealed.
Litigation funders slugged with cost of jurisdictional battle over AMP class actions
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A state judge has ordered the litigation funders behind a group of federal class actions against AMP to pay the legal costs of their failed transfer applications, saying while he could not make the applicants pay, he could compel the funders to cough up the money.
Target, Baby Bunting pay fines for selling dangerous convertible strollers
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Target Australia and Baby Bunting have agreed to pay penalties totalling $53,000 after being caught selling and marketing unsafe convertible strollers, the consumer watchdog said Wednesday.
Otsuka can press ahead with ‘inconsistent’ defences in Abilify patent dispute
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Otsuka Pharmaceuticals and Bristol Myers-Squibb can retain their defences in an ongoing patent dispute over antipsychotic drug Abilify, after the Federal Court dismissed a strike out bid by the Commonwealth of Australia over the allegedly “inconsistent” pleadings.
Westpac unit RAMS breached franchise agreement, court finds
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Westpac-owned mortgage lender RAMS Financial Services breached a franchise agreement by failing to supply a Brisbane-based franchisee with information about nearby broker-originated customers, a judge has found.
Ex-PPB Advisory liquidator suspended for pilfering $800k
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A former PPB Advisory liquidator has had his licence suspended after a disciplinary committee found he acted dishonestly in transferring $800,000 from the account of a company in liquidation into a bank account he controlled.
Judge pauses Lendlease demolition of $729M Allianz Stadium
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Construction giant Lendlease has been temporarily restrained from beginning major demolition work for the Allianz Stadium redevelopment in Sydney until a judge rules on two legal challenges to the $729 million project.
NAB wasn’t powerless to alter credit card insurance policies, class says
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The lead plaintiff in a class action alleging National Australia Bank pushed worthless credit card insurance onto its customers is disputing the bank’s claims that it had no power to negotiate the terms of the policies.
Lawyers, funders brace for landmark common fund ruling this week
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Judgments in two appeals challenging the legality of common fund orders issued by courts in class actions will be handed down this week, and the rulings could have a profound effect on how class actions are run by lawyers and their funders in the future.