The litigation funder behind a scam to defraud members of a class action over the collapse of Banksia Securities has entered liquidation, and the funder’s two surviving directors will be among potential targets of attempts to recover money to pay a $21.7 million court judgment.
The federal Attorney General’s Department has faced calls to reveal the constitutional heads of power behind the latest class action reform bill that aims to cap the amount of fees and commission lawyers and funders can earn.
Tennis star Novak Djokovic’s challenge to the Immigration Minister’s decision revoking his visa was unanimously dismissed Sunday, clearing the way for his removal and crushing his hopes for another Australian Open title.
If evidence were needed that courts are not rubber stamping class action settlements, the scrutiny of multi-million dollar agreements in 2021 is proof positive that judicial oversight of representative proceedings is robust.
Mylan’s Australia unit is appealing decisions by the tax office to refuse deductions on interest paid under loans taken out by the pharmaceutical giant to help fund the $1.2 billion acquisition of generic drug maker Alphapharm almost 15 years ago.
Crown Melbourne has been hit with a $1 million fine by the Victorian gaming regulator — the second this year — for failing to comply with rules on junket operators.
IVF company Virtus Health has withdrawn its offer to acquire rival Adora Fertility from Healius, citing the competition regulator’s opposition to the takeover.
Payments processing company EML has been hit with a class action over its alleged failure to notify shareholders of concerns by Ireland’s central bank relating to compliance with anti-money laundering regulations.
Commercial real estate giant CBRE Group has lost its bid to toss proceedings brought by fund manager Trilogy claiming the company negligently valued a Queensland marina at $34.8 million in 2006 and caused millions in losses.
The ABC has resolved a discrimination lawsuit brought by a reporter who claimed she developed a medical condition as a result of being overworked.