Pitcher Partners loses bid to stay suit over Zap Fitness buy-back

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Pitcher Partners has failed to stay a Federal Court suit alleging the accounting firm failed to properly advise former Zap Fitness owner Bective Enterprises on a troubled share buy-back scheme, in light of a Supreme Court bid by another key player to shut the case down.

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ASIC to keep up scrutiny of crypto assets, greenwashing in 2023

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The Australian Securities and Investments Commission’s has detailed its enforcement priorities for 2023, which include a continued focus on predatory lending, crypto-assets and greenwashing.

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7-Eleven class action judge says CFOs never available, slashes funder’s payout

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The High Court killed off all common fund orders, not just the kind sought at the start of a class action, a judge has said as he cut in half the payout for a litigation funder bankrolling two franchisee class actions against 7-Eleven.

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Law firm’s $16.6M payday OK’d over 7-Eleven class action contradictor’s protests

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A judge has blessed a law firm’s $16.6 million legal bill for running two franchisee class actions against 7-Eleven despite a contradictor’s argument that it had a “troubling” practice of deferring its fees to benefit the funder that bankrolled the cases. 

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KPMG class action applicants might bring CFO question to a head

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The applicants in a shareholder class action against KPMG and former directors of defunct mining company CuDeco might press for clarity on the question of common fund orders in light of a ruling Tuesday morning that further split the Federal Court on the issue.

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Novel ‘solicitors’ CFO to be sought in Blue Sky class actions

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The applicants in a consolidated investor class action against Blue Sky Alternative Investments and auditor EY will be applying for a so-called solicitors common fund order, and will move to transfer the case to the contingency-fee friendly Victoria Supreme Court if the groundbreaking application fails.

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‘Distinctly bizarre’: Costs, commission send lead applicant packing in oil spill class action

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The law firm running the Montara oil spill class action, which has settled for $192.5 million, is looking for a new lead applicant after the first one defected over concerns group members would lose half the settlement amount to legal costs and a funding commission.

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‘Journalism under attack’: Nine to deploy public interest defence in surgeon’s defamation case

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Facing defamation claims by well-known surgeon Dr Munjed Al Muderis, Nine will call at least 27 witnesses and argue for the public interest of its coverage of allegations by patients of inadequate post-surgery care, a court has heard.

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Asset Energy wins review of Morrison’s denial of oil exploration licence

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Asset Energy has won Federal Court review of former Prime Minister Scott Morrison’s decision not to grant a two-year extension of a controversial offshore exploration license, after the government conceded that Morrison’s decision was “infected by apprehended bias.”

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