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The failure of two class actions to prove loss linked to the Commonwealth Bank’s disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.
$59M settlement reached in rate-rigging class action against banks
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A $59 million settlement has been reached in a long-running class action accusing five major banks of foreign exchange rate-rigging.
SMBC can’t access King & Wood Mallesons docs in $34M case against Humm
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SMBC has lost a bid for documents connected to King & Wood Mallesons opinions in its suit against fintech Humm linked to the Forum Finance fraud, with a court saying the Japanese bank did not share joint privilege over the material.
Keybridge CEO Nick Bolton loses challenge to removal by board
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An appeals court has rejected Keybridge CEO Nick Bolton’s challenge to a ruling that found that he and two other directors were validly removed at a board meeting, finding in favour of shareholder WAM Active.
Synagogue head wins $120,000 in defamation suit over Nine newspaper columns
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A former synagogue president has won $120,000 in damages after suing The Age and two journalists over articles that accused him of unilaterally inviting a convicted spy to speak at an event.
Final deadline for Shangri-La director’s evidence in Victoria cladding case
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The director of collapsed Shangri-La Construction has been hit with self-executing orders to file evidence in Victoria’s case over alleged combustible cladding on a Melbourne building, after unexplained delays.
Wind farm asks High Court to toss ‘unwise’ ruling on $21M payments to GE, Elecnor
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The High Court has been asked to weigh in on whether issue and Anshun estoppel apply to SOP Act claims, with a South Australian wind farm seeking to overturn a ruling ordering it to make a $21 million progress payment to joint venture partners GE Renewable Energy and Elecnor.
NSW green lights 10 projects to connect to renewable energy zone
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NSW has approved 10 renewable energy projects to connect to the state’s first renewable energy zone.
Sydney Roosters buys Paddington co-living apartment block
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Rugby team the Sydney Roosters has purchased a 26-room UKO co-living apartment block in Paddington in Sydney’s east.
Centuria picks up $33M Melbourne warehouse for last mile logistics partner
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Real estate funds manager Centuria has acquired a $33 million warehouse in Melbourne’s west, as part of its partnership with US private investment firm Starwood Capital.