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Citing coronavirus, judge orders limited discovery in ANZ, Westpac ‘junk’ insurance class actions
Noting the challenge of searching for documentary evidence while employees are working from home, a judge overseeing two consumer class actions against ANZ and Westpac has directed the banks to hand over only a limited number of documents to the applicants, and given them extra time to do it.
Criminal investigation launched over COVID-19 cases linked to Ruby Princess
Police have launched a criminal investigation of the circumstances surrounding last month's docking in Sydney of the Ruby Princess cruise ship, which is now linked to 11 deaths from COVID-19.
Treasury Wine Estates hit with class action over earnings downgrade
Treasury Wine Estates has said it will vigorously defend a shareholder class action filed this week over a recent earnings downgrade, one of two possible class actions the wine producer could be facing over the announcement.
Judge OKs notice in Westpac class action foreshadowing ‘expense sharing order’
A judge has approved a notice in a class action against Westpac alerting group members that an "expense sharing order" will be sought by the applicants if or when the case settles, the first ruling of its kind since the High Court struck down common fund orders.
MinterEllison partners take half pay, staff asked to buy leave
Equity partners at MinterEllison have agreed to cut their draws by 50 per cent and permanent staff have been asked to purchase six weeks' leave as part of measures to weather the COVID-19 crisis.
Short seller Bonitas ordered to pay $900,000 over misleading report on Rural Funds
Activist short seller Bonitas Research must pay Rural Funds Management almost $900,000 after the US-based Bonitas was found to have engaged in misleading or decpetive conduct in issuing a report describing the agricultural fund manager's equity as "ultimately worthless".
Asahi’s $16B deal to buy CUB gets competition approval with sell-off
The competition watchdog has signed off on the $16 billion acquisition of Carlton & United Breweries by Asahi after the Japanese beer giant offered to shed key beer and cider brands to seal the deal.
Ashurst lures top Deloitte partner for launch of risk advisory arm
Ashurst has brought on former Deloitte senior partner Philip Hardy to help launch its consulting arm to compete with the big four firms, and the law firm says Hardy's experience will be an asset as it manages the challenges of COVID-19 on clients' businesses.
Gadens faces lawsuit by director of Modscape for ‘malicious’ letter to building regulator
Law firm Gadens and partner Andrew Denehy have been hit with a lawsuit by the director of Modscape alleging a letter to the Victorian Building Authority questioning the financial probity of the director and the design company was false and malicious.
Barristers call for financial help as work declines amid coronavirus pandemic
The association for practicing barristers in NSW has called for a financial support package for its members as courts restrict in-person hearings to combat the spread of the novel coronavirus.