Lawyers running a class action against recycling company Sims Metal Management say the court has power to approve their bid to amend the group member definition that will effectively close the class, but the judge overseeing the case will appoint a contradictor to represent group members in a hearing over the application.
A judge has cut a request a security for costs in half in insurance rectification proceedings stemming from two class against sandalwood producer Quintis, saying the amount proposed by the funders bankrolling the case was “quite generous”.
Three law firms will represent the insurers in new proceedings launched to resolve a $46 million insurance question delaying settlement of two shareholder class actions against sandlewood producer Quintis, bringing the total number of law firms working on the class action to eight.
In a defeat to the Australian Securities and Investments Commission, a judge has found a key witness in the trial against former Quintis director Frank Wilson must give evidence in person, delaying the hearing indefinitely until coronavirus-related travel restrictions are lifted.
The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed for a second time, as the parties continue to investigate the company’s eleventh-hour revelation that it may have extra insurance, which, according to the lawyers of one class action, could be worth $46 million to group members.
The settlement of two shareholder class actions against sandalwood producer Quintis has been delayed after the company’s eleventh-hour revelation that it may have an extra $40 million in insurance.
Sandalwood producer Quintis has agreed to settle two class actions by shareholders, but the claims against company founder Frank Wilson and auditor EY will proceed for now.
A judge overseeing a shareholder class action against collapsed engineering group RCR Tomlinson has said goodbye to the common fund order in the case while welcoming last year’s High Court decision preventing these orders from being made at the early stage in class actions.
A judge has ordered the legal teams behind two settled Surfstitch class actions to have another crack at the opt out notice, saying the current version is “just too confusing” for group members.
The plaintiffs in one of two shareholder class actions brought against troubled sandalwood producer Quintis have complained about potential delays that could result from the “overly complicated loss theory” being advanced in a parallel class action.