As we reach the 30-year anniversary of the modern form of class action in Australia, an enduring characteristic of class action practice in this country is that the area is not well-suited to those who enjoy certainty or predictability, say Jason Betts, Aoife Xuereb and Melissa Gladstone-Joyce of Herbert Smith Freehills.
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‘That’s not what investors signed up for’: Linchpin used funds for unauthorised loans, court told
Clients of Linchpin Capital Group and subsidiary Endeavour Securities who were promised investments in a diversified loan portfolio were instead duped into funding Linchpin’s own business interests and lining its directors’ pockets, a judge has heard as trial got underway in ASIC’s case against three former Linchpin directors.