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Owners of Sydney’s Mascot Towers are facing a “parlous situation” as they file an urgent court bid to sell the two buildings after $16 million was spent to repair structural cracks that made the apartments unliveable.
RIP MIS: Funders, lawyers hail end of ‘ill-fitting’ regime for class actions
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The ruling by the Full Federal Court that funded class actions are not managed investment schemes marks the end of an ill-considered regime enacted by the Morrison government to rein in class actions, but the debate over regulation of litigation funders is not over yet.
Full Court finds class actions are not managed investment schemes
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In a significant victory for litigation funders, the Full Federal Court has found that funded class actions are not managed investment schemes subject to regulatory oversight, gutting the legal basis for reforms enacted by the Morrison government in 2020.
Knives come out in Nuix class action beauty parade
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A victor remains to be crowned following a heated beauty parade between competing class actions against tech company Nuix, with two law firms facing criticism for their “cumbrous” consolidation proposal and a third firm copping flak for its “opaque” financials.
ACCC flags competition concerns with Dye & Durham’s $2.9B bid for Link
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The ACCC has raised concerns that Canada-based Dye & Durham’s proposed $2.9 billion acquisition of technology services provider Link could harm competition in the market for digital conveyancing services.
Judge hits pause on ATO’s bid to sink Jan Cameron tax suit
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A judge has hit pause on the ATO’s application for summary judgment in proceedings launched by ex-Bellamy’s Australia director Jan Cameron seeking declarations that a Carribean-based trust does not owe capital gains tax for selling shares in the baby food maker.
Scotch Whisky Association takes shot at Aussie importer
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The Scotch Whisky Association has sued an Australian food and drink importer for “flagrant” copyright infringement after it allegedly sold regular whisky with the trade organisation’s ‘scotch whisky’ certification trade mark.
Judge signs off on consolidation in a2 Milk class actions
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A judge has allowed two law firms to jointly run a consolidated shareholder class action against dairy company a2 Milk, saying the arrangement was in the interests of group members and was “not novel”.
‘Unsatisfactory state of affairs’: 7-Eleven class action funder wants $16.6M advance on payout
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A litigation funder for two franchisee class actions against 7-Eleven has asked a court for a $16.6 million payout to cover its costs before a judge rules on how much it can pocket from a $98 million settlement.
Judge allows QC’s $9,800 fee, says two barristers ‘not luxurious’
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A judge has rejected a court-appointed costs assessor’s opinion that engaging a silk to fight an interlocutory application in a spat between two Queensland law firms was “plainly a luxury”.