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SkyCity has reached an agreement with AUSTRAC in proceedings alleging it allowed $4 billion in suspicious transactions, setting aside $73 million to cover penalty and costs.
Top judge says judicial workload in NSW unsustainable, calls for funding boost
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The top judge in NSW has called for more court resources and funding to ease the burden of an overworked judiciary, in an impassioned speech backed by the state’s solicitors and barristers.
‘Very large indeed’: DePuy class action settlement administration costs top $13M
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A judge has signed off on a bill that brings the total settlement administration costs in a class action against Johnson & Johnson unit De Puy to over $13 million, amid a push by some judges to open the settlement administration gig up to competition.
COVID-19 aged care class actions put on ice pending criminal trials
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Still in the dark about insurance coverage and seeking to stem the flow of cash, two class actions against Heritage Care and St Basil’s over COVID-19 outbreaks have been shelved pending the outcome of criminal cases against the Victorian aged care providers, in a decision the judge said “wouldn’t gladden the hearts of group members”.
Boral shareholders can run ‘novel’ case on loss in disclosure class action
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Construction giant Boral has lost its bid to block a class action from running a ‘novel’ argument that shareholders suffered loss because of natural fluctuations in share price, rather than as a direct result of alleged continuous disclosure breaches.
Rio Tinto shielded by war sanctions from wrath of Russian aluminium producer
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Russia’s largest aluminium producer UC Rusal has lost a breach of contract lawsuit brought against six Rio Tinto companies after they refused to deliver alumina under a joint venture agreement on the basis that doing so would cause them to run afoul of export sanctions imposed after Russia invaded Ukraine.
Mercedes-Benz dealers appeal loss in $650M suit over model switch
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Mercedes-Benz dealers have appealed a judgment that found their $650 million lawsuit against the luxury car maker over its decision to move to a fixed-price agency model tried to “rewrite the contractual bargain” they had agreed to in order to better suit their commercial interests.
Webb Henderson lures senior disputes partner from Corrs Chambers
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Webb Henderson has snagged a leading litigation and regulatory partner from Corrs Chambers Westgarth to join its team in Sydney.
Picking class action winner on strength of law firm’s experience entrenches dominance, appeal says
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A law firm that lost a contest to run a class action against Toyota unit Hino has appealed a decision to give the case to a larger rival based on past experience, saying the ruling would act as a deterrent to smaller firms wanting to enter the market for group proceedings.
‘Nothing that I can do’: Judge reluctantly imposes $1.8M penalty on Westpac in Ausgrid case
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A judge has reluctantly hit Westpac with a $1.8 million penalty after the bank admitted to unconscionable conduct when trading on the morning of a $16 billion deal to privatise electricity provider Ausgrid, saying it was the maximum fine allowed under the relevant law.