Two shareholder class actions against sandalwood producer Quintis that reached an in principle settlement over a year ago are moving forward following a protracted dispute over insurance, with the lead applicants getting approval to file proposed amended pleadings.
Several banks and executives facing criminal cartel charges over a $2.5 billion ANZ share placement have won access to interview notes taken by whistleblower JP Morgan prior to it being granted immunity, which the banks say will prove inconsistencies in the prosecution’s case.
Two insurers have appealed a ruling that could provide a further $11.25 million to group members in a class action against sandalwood producer Quintis, further delaying finalisation of a settlement reached in the group proceeding over a year ago.
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.
The judge who vowed last year to move a criminal cartel case over a $2.5 billion ANZ share placement to trial “before we all retire” will soon weigh the ACCC’s claim for privilege over statements from JPMorgan witnesses it has been accused of pressuring during its investigation, two months after a different judge heard a still unresolved privilege fight in the long-running case.
A lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
The prosecution in a criminal cartel case against several banks and high-ranking executives over a $2.5 billion ANZ share placement has fought back against accusations that its indictment is “fundamentally flawed” and should be quashed.
A class action by investors of collapsed Linchpin Capital against the company’s former directors wants to join their insurers as defendants to the proceedings.
Whistleblower JPMorgan can’t be a witness in a criminal cartel case over a $2.5 billion ANZ share placement that has ensnared several investment banks and top executives and claim privilege over witness statements relevant to the case, a court has heard.
A group of late opt out notices by group members in a class action over IAG insurance, who were egged on in part by a ‘corporate warfare’ campaign by claims management service Claimo, could result in IAG pulling the plug on a $138 million settlement.