The litigation funder bankrolling a class action on behalf of 383 apartment owners in Sydney’s troubled Opal Tower is seeking a 26 per cent commission totalling $13.2 million of the confidential settlement sum, a court has heard.
Following the lead of its Victorian counterpart, the NSW Supreme Court has found that law firm Atanaskovic Hartnell cannot recover costs in self-represented litigation against a former client over unpaid legal invoices.
A judge has ordered the estate of Giovanna Toppi to pay money owing to a landlord under a $1.1 million loan after refusing to find the iconic Sydney restaurateur was the victim of wrongdoing by her daughter, Paola.
Highly anticipated legislation creating a federal anti-corruption commission has received unanimous support and could pass by the end of the year, but a fight may be on the horizon over the commission’s power to conduct public hearings.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
Virgin Australia’s insurers may be dragged into a class action accusing the airline of failing to disclose its true financial position in a 2019 prospectus for a $324 million capital raising.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
A class action on behalf of 3,500 business owners along Sydney’s light rail route has told a court that group members bore the brunt of the project’s delayed construction, described as “a train wreck which could be predicted from a mile away”.
The outgoing deputy chair for the Australian Competition and Consumer Commission says Australia “really needs” a new unfair practices law, echoing sentiments from the regulator’s former boss.