A court has approved a $170 million settlement in a class action against Allianz, and has signed off on an order that gives the firms behind the case 25 per cent of the deal.
The Supreme Court of Victoria has been urged not to meddle with a 25 per cent group costs order in a junk insurance class action that settled for $170 million, in what would be the court’s second blessing of a law firm contingency fee.
A failed competition class action by Queensland electricity customers accusing utility companies Stanwell and CS Energy of misusing their market power has been appealed to the Full Court.
Suncorp has reached a settlement in a class action against unit AAI over add-on insurance, the insurer confirmed on Friday.
A court has vacated a trial set to begin Monday in the class action against Suncorp unit AAI over add-on insurance, suggesting a settlement is in the works.
Trial in a class action against Suncorp unit AAI over add-on insurance has been delayed as Maurice Blackburn works to secure a NAB bank guarantee to satisfy a $1.7 million security for costs order.
Class action settlements leaped in value last year, with three settlements topping the $200 million mark.
Maurice Blackburn should provide $1.77 million in security in a class action over add-on insurance because the firm faces high risks in other class actions which could affect its ability to cover an adverse costs order, a court has heard.
A class action against online trading platform IG Markets over alleged risky contracts for difference may drop its conflicted remuneration claims after struggling to find a sample group member.
A competition class action against Stanwell and CS Energy has been tossed, with a judge finding the power companies’ conduct was legitimate “profit maximisation behaviour”.