Liquidators for collapsed steel and mining giant Arrium have successfully appealed a court ruling permitting the examination of a former director for a possible shareholder class action, with the Court of Appeal for the NSW Supreme Court finding the “private nature” of the claims was an abuse of process.
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.
Westpac has followed ASIC’s lead, launching a separate appeal to a ruling that it provided financial advice but not personal advice as part of a campaign encouraging customers to roll over external superannuation accounts.
A litigation funder wants the High Court to review a court decision’s to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
The Australian Securities and Investments Commission has not ruled out a challenge to a ruling that two Westpac subsidiaries didn’t provide personal financial advice as part of a campaign encouraging customers to roll over external superannuation accounts.