A $1.5 million class action settlement against failed logistics provider GetSwift, which a judge termed a “disaster”, has been revised down to $1 million and may face a liquidators’ challenge that could see a group members recover nothing.
Liquidators of failed tech company GetSwift have foreshadowed an objection to a $1.5 million settlement going to shareholders in a class action that a judge has labelled a ādisaster”.
A judge overseeing a shareholder class action against the now failed GetSwift has urged the applicant to decide soon if he will forge ahead with a problematic settlement, seek summary judgment or wait to see what comes of the parent company’s bankruptcy case.
A judge has stayed a class action on behalf of 6,000 women allegedly injured by defective pelvic mesh devices after Astora Women’s Health filed for bankruptcy in the United States, but questioned how the company had suddenly come to have no assets.
A judge has paused a class action on behalf of 6,000 women allegedly injured by defective pelvic mesh devices pending determination of an application by Astora Health for a stay of the proceedings following its bankruptcy filing.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a āno brainerā that the company was in dire straits when its directors sought extra funds.
Japanese bank SMBC has brought a $33.6M lawsuit against fintech Humm Group after its subsidiary Flexirent allegedly misled the bank about receivables under allegedly forged contracts between a Forum Group entity and Veolia Environmental Services.
Bill Papasā girlfriend Louise Agostino has hit back at Westpacās lawsuit accusing her of involvement in the Forum Group directorās alleged $294 million fraud, denying all allegations and arguing that the bulk of the bankās claims against her should be struck out.
A lawyer for Forum Finance director Bill Papas has argued the alleged fraudster should be able to shield documents held by his former lawyer under a claim for legal professional privilege despite being a āfugitiveā from contempt charges.
Westpac has yet to commence extradition proceedings against Forum Finance director Bill Papas due to concerns that the alleged fraudster may face only contempt charges if he is brought back to Australia prematurely.