Shareholders have appealed a ruling that found a “serious problem” with market-based causation and dismissed three cases against the liquidator of failed global financial services firm Babcock & Brown.
A NSW Supreme Court judge has raised concerns about a dispute over fees owed to two law firms and a funder in relation to four shareholder actions brought against the liquidators of HIH Insurance.
A judge has briefly stayed his $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by the collapsed Gunns Group as AET weighs an appeal of the ruling, which dismissed its cross-claim against law firm Sparke Helmore.
Lawyers behind four quasi representative proceedings against the liquidators of collapsed HIH Insurance have launched a bid to recoup the costs of their successful 18-year-long legal battle.
A judge has dismissed three proceedings by shareholders against the liquidator of failed global financial services firm Babcock & Brown, in a finding that highlights “serious problems” with market-based causation and may have ramifications for securities class actions.
IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.
Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.
IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.
The trustee of the Retail Employees Superannuation Trust wants more details about an ecological landscaper’s allegation that it breached its duty of care by failing to make adequate disclosures about climate change risks.
An ecological landscaper suing the Retail Employees Superannuation Trust fund for an undeveloped climate change policy has lost an application for a maximum costs order in the public-interest case.