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ANZ breached continuous disclosure rules during $2.5B share placement, court finds
Securities 2023-10-13 5:08 pm By Cindy Cameronne

A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.

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Nine faces contempt claim over stories on surgeon’s defamation trial
Defamation 2023-10-13 12:08 pm By Cindy Cameronne

A top orthopaedic surgeon who is suing Nine for defamation has accused the outlet of contempt of court by publishing unadmitted evidence about his reputation, claiming the stories were “improper, unjust and lacking in bona fides”. 

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Court can order solicitor to return fees for ‘exorbitant overcharging’
Legal Ethics 2023-10-13 4:18 pm By Cindy Cameronne

A court made valid orders for a Queensland solicitor to pay back $251,255 to the relative of a former client, an appeals court has found, saying that “exorbitant charging debases the reputation of the legal profession”.

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Judges have power to make settlement CFOs, says Full Court
Class Actions 2023-10-12 11:36 am By Cindy Cameronne

The Full Federal Court has answered a question vexing the court for the past four years, ruling that class action judges have the power to make common fund orders at settlement that allow litigation funders to reap a percentage commission beyond their contractual entitlement. 

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Full Court shoots down ‘misconceived’ bid to undermine Fair Work class actions
Employment 2023-10-12 4:51 pm By Cindy Cameronne

A judge has declined a union’s bid to throw out an employee class action against McDonald’s after the Full Federal Court confirmed that employee class actions are not precluded by the Fair Work Act. 

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Experience trumps funding model in Jaguar Land Rover beauty parade
Class Actions 2023-10-12 12:29 pm By Cindy Cameronne

A judge has awarded carriage of a class action against Jaguar Land Rover over allegedly defective diesel filters to a law firm that won a similar case against another car maker, saying the firm’s experience was not a “neutral factor”.

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Competing Qantas class action on the cards, court urges firms to avoid fight
Competition & Consumer Protection 2023-10-12 10:59 am By Cindy Cameronne

A second law firm is likely to throw its hat in the ring to run a competing class action against Qantas over flight cancellations in the COVID-19 pandemic, but a judge has made orders trying to side-step a carriage fight, criticising them as “wasteful and expensive”. 

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Legal challenge to Mount Pleasant coal mine extension fails
Environment 2023-10-11 2:54 pm By Cindy Cameronne

A decision by federal environment minister Tanya Pibersek to greenlight the extension of two mega coal mines in NSW was “legally open” to her, a judge has ruled, despite acknowledging the “existential threat” of climate change. 

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ASIC seeks urgent orders barring payday lenders from enforcing ‘harmful’ loan contracts
Financial Services 2023-10-11 4:00 pm By Cindy Cameronne

The Australian Securities and Investments Commission is seeking to restrain payday lenders Cigno and BSF Solutions from enforcing loan fees against 10,000 customers.

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Qantas takeover target Alliance faces harassment case
Employment 2023-10-11 11:57 pm By Cindy Cameronne

A former flight attendant trainee has filed a lawsuit against fly-in fly-out operator Alliance Airlines, which was the subject of a takeover bid by Qantas earlier this year, claiming he was dismissed for complaining of harassment.

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