The trustee of Mayfair Group’s collapsed IPO Wealth Fund has denied claims in a class action that it misled investors who lost $86 million when the fund was wound up, and says it is fully indemnified for the class action’s claims under an agreement with the fund.
Westpac will recoup the majority of proceeds from the $29.6 million sale of collapsed fintech Sargon Group, with a judge calling the company’s liquidators “anxious sellers” who sold at speed and well below market value.
A judge has temporarily barred Qantas from moving forward with its plans to terminate a long haul pilot who reached the mandatory retirement age of 65, saying the pilot had established that he may have an age discrimination claim against the airline.
Hoping to avoid a lengthy trial like the 89-day hearing in the pelvic mesh class action against Johnson & Johnson’s Ethicon, a judge has suggested splitting up a class action hearing over TFS Manufacturing and IVS pelvic mesh products to focus on the question of the devices’ safety and efficacy first.
Two months after the remains of accused fraudster Melissa Caddick were discovered on a NSW beach, ASIC is seeking to appoint final receivers to realise her assets, although the family and friends who invested tens of millions with the Sydney businesswoman are not expected to fully recoup their investments.
Two lawyers facing a lawsuit over their defection from specialist IP firm Pizzeys Patent and Trade Mark Attorneys have failed in their bid to have separate hearings in the case concerning the validity of non-compete clauses in their employment contracts.
A judge overseeing Ben Roberts-Smith’s defamation case against Fairfax has refused a bid by the publisher to bolster its defence with further allegations of criminal conduct by the soldier, who told the court Friday former Governor-General Quentin Bryce will give evidence for him at the upcoming trial.
A $138 million class action settlement with IAG over alleged junk insurance will go ahead after a judge found he was “bereft” of power to vary his prior approval judgment and include late opt out bids by group members that threatened to derail the agreement last month.
Two law firms bringing competing class actions against insurance giant Allianz have proposed to resolve the duplication by jointly running just one of the cases, but the judge overseeing the litigation needs convincing, she said Friday.
A Federal Court class action against two NAB units over $6.3 billion in super funds is on hold after lawyers for the applicant filed an appeal of a ruling that found their state court proceeding had been invalidly commenced.