A director of sunglasses company Quay Eyewear has lost her bid to access HWL Ebsworth’s advice to the company given during legal proceedings which accused her of tortious interference, breach of directors’ duties and intellectual property violations.
IOOF subsidiary Australian Executor Trustees failed to drag law firm Sparke Helmore into a case after it was hit with a $76.6 million judgment over breaches of duty in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group.
Sparke Helmore has admitted that legal advice it provided to IOOF subsidiary Australian Executor Trustees was inadequate but has argued it should be responsible only for up to 10 per cent of the $76.6 million judgment against AET over the sale of a timber plantation by collapsed forestry giant Gunns Group.
Sparke Helmore is equally responsible for a $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by collapsed forestry giant Gunns Group, an appeals court heard Thursday.
A judge has briefly stayed his $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by the collapsed Gunns Group as AET weighs an appeal of the ruling, which dismissed its cross-claim against law firm Sparke Helmore.
IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.
Sparke Helmore has refuted allegations by IOOF subsidiary Australian Executor Trustees (SA) that it failed to provide proper legal advice to the trustee on a 2012 pine plantation sale that left 4,500 investors without millions of dollars worth of assets.
IOOF subsidiary Australian Executor Trustees (SA) is facing an $82 million claim for compensation by investors angered by the way the trustee handled the sale of a 42,000 hectare timber plantation run by collapsed forestry giant Gunns Group.