Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.
The Federal Court has given the greenlight to a $30 million settlement in Shine Lawyers’ insurance class action against Westpac and will allow post-settlement registration notices to be sent to group members.
The former senior counsel in a settled insurance class action against Westpac has had his fees reduced by $70,000 after the Federal Court heard some of the work for which he charged was not done in the interests of group members.
A judge has questioned the legal disbursements sought to be approved in a $30 million class action settlement against Westpac over allegedly excessive life insurance premiums, particularly the “extraordinarily large” barrister fees charged in the case.
The cash-strapped litigation funder that initially agreed to bankroll a class action against Westpac over life insurance premiums will not earn a cent in commission under a proposed $30 million settlement.
A Federal Court judge has ordered that a referee consider how junior barristers were used in assessing the legal costs in an insurance class action against Westpac which the bank has agreed to pay up to $30 million to settle.
Westpac has agreed to pay up to $30 million to settle a long-running class action over allegedly excessive insurance premiums which included a trip to the High Court that resulted in common fund orders being struck down in the early stages of class actions.
A judge has denied Fuji Xerox’s attempt to strike out parts of the defences of Ernst & Young and a former Fuji director in a lawsuit over alleged massive accounting irregularities.
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
A judge on Friday dismissed Westpac’s bid for an update from litigation funder JustKapital as to whether it continues to financially back a class action against the bank over allegedly excessive insurance premiums.