A ruling by a judge deciding a four-way contest to run a shareholder class action against AMP is expected this week, a judgment significant not just because it is the first time a court in Australia has been asked to choose among so many competing representative cases.
An appeal before a historic joint sitting of two courts over so-called common fund orders in class actions kicked off Monday with a full bench of six judges and a packed courtroom hearing arguments by eminent barristers for BMW and Westpac that the orders are either preemptive or pointless.
The showdown between five law firms vying to lead a class action over the AMP fees for no service scandal kicked off in the NSW Supreme Court Thursday with counsel for one case saying the contest, although costly and consuming, would ultimately be a win for all class action participants.
Westpac is contesting a subpoena in a class action over allegedly excessive life insurance premiums for documents from Deloitte that may reveal how the bank chose the policies it offered.
Law firm Quinn Emanuel Urquhart & Sullivan will call in US experts to back up its proposed “step up” funding model as five law firms begin a high stakes battle to lead a shareholder class action against AMP.