The corporate regulator has taken Australian Mines to court after its managing director was allegedly caught lying at an investment conference about the value of an offtake agreement and funding for a project at its cobalt and nickel mine in Queensland.
Mayfair 101 director James Mawhinney has sought a temporary stay of ASICâs case accusing him of being in contempt of court for allegedly breaching a 20-year ban on selling financial products.
The Australian Securities and Investments Commission has lost an interim injunction bid against the director of investment firm Mayfair 101 in its case seeking a contempt finding, despite arguing there was a substantial risk of harm to consumers.
A judge has said the applicant in a class action against Brambles has âside-steppedâ a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had âbedevilledâ the courts.
The power to make common fund orders in class actions is a question before the High Court a second time, but the justices aren’t likely to quell the conflict simmering in the courts below, at least until they have a concrete order before them.
A Federal Court judge has made his feelings known about a ruling by the NSW Supreme Court last year that found judges have no power to shut unregistered group members out of a class action, but said he was âjust a single judgeâ and was bound by the decision.
A $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been given the greenlight by a Federal Court judge, who also approved the funders’ recovery of after-the-event insurance, a decision that puts him at odds with some of his colleagues on the bench.
A judge weighing a $38.4 million settlement in a shareholder class action against aged care provider Estia Health has been told that two NSW Court of Appeal judgments barring class closure were âplainly wrongâ, but in deciding whether to lock group members out of the settlement the judge says he wonât need to grapple with the landmark rulings.
A judge has signed off on a settlement in two shareholder class actions against clothing retailer Surfstitch, but has capped the legal costs and commissions sought by the litigation funders after finding the law firms behind the cases sent out notices to group members that were “misleading” and “understated” the risks of joining the class.
Payouts in class actions in 2020 largely kept pace with the previous year despite the financial strain of the COVID-19 pandemic, with companies and other defendants paying more than $696 million to settle class actions last year.