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Pharmaceutical company Boehringer Ingelheim has failed in its Federal Court challenge to a patent application for an injectable anti-parasite drug for livestock by a subsidiary of competitor Merck Sharp & Dohme.
Major insolvency reforms to reboot economy draw criticism from lawyers
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The Morrison government has announced significant reforms to insolvency laws as part of its economic recovery plan that take inspiration from US chapter 11 laws, but Australia’s peak legal body has said the timeframe for the changes and lack of consultation were “very concerning”.
Third class action filed over Victoria’s botched COVID-19 hotel quarantine program
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A class action targeting security companies contracted by the Victorian government to guard returning travellers in hotel quarantine has been launched, bringing to three the number of group proceedings filed over the botched program.
Westpac to pay record $1.3B penalty in AUSTRAC action
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Westpac has agreed to pay a whopping $1.3 billion civil penalty to resolve AUSTRAC enforcement action over the bank’s 23 million breaches of money laundering and counter-terrorism laws.
Elliott doesn’t have to give ‘full and frank’ explanation of alleged role in Banksia fee scandal
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An appeals court has set aside an order requiring Alex Elliott, the son of the funder behind the Banksia securities class action, to give a “full and frank” explanation of his role in an alleged fraudulent scheme to inflate legal fees in the case.
Clive Palmer can’t get law firm, funder docs for possible Queensland Nickel claim
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The Queensland Supreme Court has shot down an “entirely speculative” bid by two Clive Palmer-owned companies to access information held by two law firms and a litigation funder, as the mining magnate mulls a lawsuit for potential breaches of a settlement reached in the Queensland Nickel liquidation proceedings.
Funder will take loss in $7M QRxPharma class action settlement
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The funder backing a shareholder class action against the directors of pharmaceutical firm QRxPharma will not seek to profit from a $7 million settlement in order to bring about a better return for group members, a judge has been told.
Judge again rejects priority application in Crown Resorts class action
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A judge has denied a request to grant priority status to a shareholder class action against Crown Resorts that would have allowed the Melbourne-based legal team running the case to access childcare and leave their homes for work while the state of Victoria remains in lockdown.
Mayfair’s Mawhinney hires Ashurst after lengthy ASIC submission
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The director of the beleaguered Mayfair investment group, who has been self-represented in winding up proceedings by ASIC, has now entered into a late stage retainer with law firm Ashurst, with his barrister saying he could no longer manage the case on his own after the regulator filed a lengthy affidavit.
Government extends rule shielding companies, directors from COVID-19 class actions
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The Morrison Government has extended a temporary change to the continuous disclosure rules to give companies more wriggle room in updating shareholders during the coronavirus pandemic by six months, saying the change had allowed shareholders to remain informed while preventing “opportunistic class actions”.