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South Australian oil and gas firm Beach Energy has been hit with a class action over allegedly misleading earnings projections for its Western Flank oil and gas reserves in the Cooper Basin.
‘Not a shred of evidence’: Judge questions appeal in HWL Ebsworth negligence suit
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A judge has questioned property developer PPK Group’s challenge to the dismissal of its long-running negligence case against HWL Ebsworth over the $25.5 million sale of Crown-owned land in Sydney.
Melissa Caddick’s parents may face court battle over $2.6M Edgecliff property
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The parents of accused Sydney fraudster Melissa Caddick may need to bring court proceedings to retain their $2.6 million Edgecliff home and recoup $1.2 million they gave to their daughter for the mortgage.
ASIC gets time to mull class action’s bid to ring-fence $7.2M Dixon Advisory penalty
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A court has delayed a hearing on a bid by the applicant in a class action against Dixon Advisory to freeze a $7.2 million penalty secured by the Australian Securities and Investments Commission against the self-managed superfund provider so the corporate regulator can consider its position on the request.
ACCC approves NAB’s $1.2B acquisition of Citi’s consumer business
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The Australian Competition and Consumer Commission has given the green light to the National Australia Bank’s proposed $1.2 billion acquisition of Citigroup’s Australian consumer business, finding the deal is not likely to substantially lessen competition.
Controversial class action bill passes House by slim margin
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The federal government’s latest class action reform bill that would effectively cap legal fees and funding commissions has narrowly passed the House of Representatives.
Greensill Bank says IAG unit owes $48.5M under trade credit policy
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The insolvency administrator of Germany-based Greensill Bank AG has launched court proceedings against Insurance Australia Limited seeking US$35 million allegedly owed under a policy indemnifying the collapsed financial services firm for unrecovered debts.
Lawyers, funder want 35% cut of $125M Crown class action settlement
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The lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
a2 Milk faces second shareholder class action
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Dairy giant a2 Milk has been hit with a second class action alleging it misled shareholders by providing an overly rosy forecast for its infant formula sales.
Peter Dutton wins $35,000 in defamation damages over ‘rape apologist’ tweet
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Defence minister Peter Dutton has won $35,000 in damages in a defamation case over a tweet accusing him of being a rape apologist, with a judge finding the tweet conveyed that the minister “excuses rape”.