A judge has ruled that a litigation funder for an investor class action against Virgin must give the airline an indemnity to bring proceedings despite finding a deed of company arrangement requiring the pay-out âdidnât make senseâ.
Westpac and the lead applicant in a class action filed in the wake of AUSTRAC proceedings are still battling it out over discovery of evidence three years into the case. And the applicant claims the bank’s discovery protocol fails the new test set by the Full Federal Court earlier this year.
Law firms Shine Lawyers and Phi Finney McDonald have won a contest to jointly run a class action against embattled tech company Nuix, with rival Banton Group losing out on its âopaqueâ funding agreement.
AMP has admitted ASIC’s allegations that it acted unconscionably in charging life insurance premiums and advice fees to deceased customers, but the wealth manager will go head to head with the regulator over how much it should pay for its contraventions.
A judge has approved a $52 million settlement is six class actions against car makers for allegedly selling cars fitted with deadly Takata airbags, under which individuals group members will get around $600 after $31.7 million in expenses is deducted.
Virgin Airlines has argued a litigation funderâs indemnity for its legal costs is not enough for it to bring a class action on behalf of bond holders over a 2019 prospectus, claiming the airline expects to spend more than $5 million defending the proceedings.
Shine and Phi Finney McDonaldâs fallback plan to cooperatively run a class action against Nuix has come under fire, with the technology company urging the court to make the two firms compete against one another for sole carriage.
ASIC has called for a $15 million penalty against GetSwift and 12-year bans against its directors, who moved the logistics company overseas as the regulator’s enforcement action was on foot, a move the court on Tuesday said was “unprecedented”.
The funder and law firm running a shareholder class action against recycling company Sims Limited are seeking more than 57 per cent of a $29.5 million settlement for commission and costs, including an insurance policy to cover the risks of losing the case.
A judge has signed off on the discontinuance of two class actions against Canberra property developers for allegedly misleading investors about GST on their apartments, after the High Court declined to review a ruling that made the cases “uneconomic” for the funder to pursue.