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The funders of two class actions against a trustee of failed investment groups LKM Capital and GR Finance have agreed to cut their commission by 15 percentage points.
ACCC urged to block Nine, Fairfax merger
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Australia’s largest media union has called on the ACCC to block the proposed merger of Nine Entertainment and Fairfax Media, saying it’s a threat to media diversity in an already heavily consolidated media industry.
Judge in S&P class actions told to start from scratch with funder’s fee
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The amicus hired to assess the funder’s cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he’s considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder’s commission.
Ex-Bellamy’s boss loses $1.2M share dispute
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The former CEO of organic baby food producer Bellamy’s Australia has lost a legal battle over $1.2 million in options she claimed she was owed as part of a long-term financial incentives scheme.
Only exposed Deloitte partners can claim privilege in Hastie class action
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Shareholders in a class action against Deloitte over the collapse of engineering company Hastie Group have won a major ruling against partners at the auditing firm who resisted handing over evidence to the class for fear of incriminating others at the accounting giant.
Johnson Winter & Slattery dragged into Vocation class action
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Johnson Winter & Slattery has been pulled into a class action against failed educational training company Vocation and its auditor PricewaterhouseCoopers, with the auditor saying the firm’s advice to Vocation constituted misleading and deceptive conduct.
ACCC takes Europcar to court for excessive card surcharges
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Europcar has been hit with an enforcement action by the Australian Competition and Consumer Commission accusing the rental car company of slapping customers with excessive credit and debit card payment surcharges.
Directed Electronics can’t block rival Hanhwa’s deal with Izuzu in IP case
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A judge has dismissed a bid by Australian auto electronics company Directed OE for an injunction stopping South Korean rival Hanhwa from supplying a new audio visual unit to truck company Izuzu it claims was developed using confidential information.
Qantas doesn’t need approval to hire Herbert Smith Freehills, FWC says
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The Fair Work Commission has said Qantas doesn’t need its approval to hire Herbert Smith Freehills to assist it in an appeal in an unfair dismissal proceeding.
MinterEllison settles claims over solar company collapse
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MinterEllison has resolved claims by two directors of failed Solar Shop Australia alleging the law firm, which was retained by the company to advise on a buyback scheme involving $15 million in shares owned by founder Adrian Ferraretto, breached its duty of care.