Please login to bookmark Close
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.
7-Eleven class action judge says CFOs never available, slashes funder’s payout
Please login to bookmark Close
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.
Law firm’s $16.6M payday OK’d over 7-Eleven class action contradictor’s protests
Please login to bookmark Close
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.
KPMG class action applicants might bring CFO question to a head
Please login to bookmark Close
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.
Novel ‘solicitors’ CFO to be sought in Blue Sky class actions
Please login to bookmark Close
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.
‘Distinctly bizarre’: Costs, commission send lead applicant packing in oil spill class action
Please login to bookmark Close
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.
‘Journalism under attack’: Nine to deploy public interest defence in surgeon’s defamation case
Please login to bookmark Close
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.
Asset Energy wins review of Morrison’s denial of oil exploration licence
Please login to bookmark Close
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.”
Ex-Big Un CEO charged with insider trading after ASIC investigation
Please login to bookmark Close
The former CEO of Big Un Limited has been hit with criminal charges and could face up to ten years in prison after he allegedly communicated inside information about the failed video company.
Crown, Star look set to admit non-compliance in AUSTRAC actions
Please login to bookmark Close
A court has heard that casino giants Crown and Star are likely to reach agreement with AUSTRAC as to liability in proceedings alleging “widespread and serious non-compliance” with anti-money and counter terrorism laundering laws.