Colonial First State will pay $56.3 million to settle a class action that accused the wealth management group of delaying the transfer of $3.2 billion in customer funds to low cost MySuper accounts.
The Full Federal Court has appointed a contradictor to “take up the cudgels” against funder Litigation Capital Management, which has challenged a judgment refusing to find that a class action filed against Queensland electricity operators was not a managed investment scheme.
The Federal Court won’t permit a Melbourne-based judge to travel to Sydney on the dime of the parties in a class action against wealth management group Colonial First State, but will foot the bill itself.
The parties in a class action accusing a Commonwealth Bank of Australia unit of breaching its superannuation trustee duties want the matter to be heard in person and are willing to foot the bill for the judge to travel to Sydney to make it happen.
A litigation funder has taken aim at a landmark judgment in an appeal of a ruling that found its funding arrangement with group members in a class action against Queensland energy suppliers was a managed investment scheme.
Two landmark class actions seeking damages from the Victorian government for economic losses suffered during last year’s second wave of COVID-19 have been thrown out, but one of the cases will be given a second chance to proceed.
Two law firms are seeking court approval to drop class actions brought on behalf of allegedly misclassified casual coal miners, in light of a High Court decision that “radically” decreased their chances of success.
A judge has thrown out a lawsuit that argued the funding for a class action against two Queensland energy generators didn’t comply with new regulations targeting litigation funders, and said a landmark judgment that held class action funding agreements were managed investment schemes was conceptually incoherent and ripe for a Full Court challenge.
A judge has knocked back Colonial First State’s bid to warn around 100,000 group members that even if they opt out of a class action against the wealth management firm they might still be bound by the outcome of the case.
A judge has signed off on a proposal by two law firms to jointly run a consolidated class action against Allianz over add-on car insurance, shooting down the insurer’s argument that a beauty contest would promote competitive contingency fee rates.