A judge has signed off on the discontinuance of two class actions against Canberra property developers for allegedly misleading investors about GST on their apartments, after the High Court declined to review a ruling that made the cases “uneconomic” for the funder to pursue.
The future of a class action against a Canberra property developer accused of misleading investors about GST on their apartments is in doubt after the litigation funder withdrew support for the “uneconomic” case.
The High Court won’t hear a challenge to a decision finding a Canberra property developer that misled investors about GST on its apartments did not have to pay for losses alleged in a class action against it.
In a boost to securities class actions, the High Court has ruled that directors of collapsed companies can be subjected to public examination by shareholders wanting to bring civil proceedings.
A judge has ruled he will not consider a separate question on whether Acciona is barred from setting off any damages payable to Lendlease in a lawsuit over the $160 million sale of its engineering business.
A Canberra property developer that misled investors about GST on its apartments does not have to pay compensation to the lead applicant in a class action against it, an appeal court has found.
Two shareholders of failed steel giant Arrium have told the High Court that granting their bid to grill former directors of the company would not be an abuse of process because it was in the public interest to “expose” the management of the defunct business.
The NSW Court of Appeal has refused to grant Bianca Rinehart leave to appeal a decision staying a lawsuit against her mother Gina Rinehart over ownership of a $4 billion family trust.
The High Court has rejected special leave applications by mining magnate Gina Rinehart to appeal a ruling which only partially stayed a legal dispute over ownership rights and royalties relating to the Rinehart family-owned Hope Downs iron ore mine, with one judge calling the mining magnate’s arguments a “tortured articulation” and “very odd”.
Two shareholders of failed Arrium Group have secured leave from the High Court to challenge a ruling that nixed their planned examination of a former director to bolster a class action over the collapse of the steel producer.