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Judge clarifies rights of responsible entities to recoup MIS costs
Financial Services 2022-03-23 4:22 pm By Miklos Bolza

A Federal Court judgment has laid out when a responsible entity of a managed investment scheme will be indemnified for its operating costs and when it can recoup legal costs in defending lawsuits brought over trust property.

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ACCC officers face pre-trial grilling in ANZ cartel case as judge questions need for committal
Competition & Consumer Protection 2021-10-12 11:24 pm By Christine Caulfield

Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ’s $2.5 billion capital raising six years ago.

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ANZ wins access to JPMorgan settlement chats in cartel case
Competition & Consumer Protection 2021-10-11 2:49 pm By Miklos Bolza

A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ’s bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.

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8 tips from top silks for nailing virtual cross-examination
Feature 2021-10-05 9:27 pm By Miklos Bolza

After more than a year-and-a-half of virtual trials, Australia’s barristers have adapted and come up with the best techniques to maintain an edge when cross-examining witnesses in the virtual courtroom.

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Colonial must give class action info on financial position after ‘unsatisfactory’ liability transfer
Financial Services 2021-10-05 2:11 pm By Cindy Cameronne

A judge has told a Colonial First State Investments unit to provide information about its financial position to the lead applicant in a class action and criticised the company for failing to disclose that it had transferred its liabilities after the class action was launched.

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Halifax investors file Full Court appeal to boost recovery
Restructuring & Insolvency 2021-09-13 1:50 pm By Christine Caulfield

Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.

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Recovery concerns flagged in CBA class action
Class Actions 2021-08-12 2:48 pm By Cindy Cameronne

The applicant in a class action on behalf of hundreds of thousands of Colonial First State Investments customers has raised concerns about whether he can recover compensation from a CBA life insurance unit that was recently sold to a competitor.

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JPMorgan tries to shield ASIC settlement negotiations in ANZ cartel case
Competition & Consumer Protection 2021-06-01 4:09 pm By Miklos Bolza

JPMorgan is fighting to keep details of failed settlement talks with ASIC under wraps in criminal cartel proceedings over a $2.5 billion ANZ share placement, as ANZ seeks to uncover whether the corporate regulator made a deal with the investment bank ahead of the cartel case being filed.

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Goodman Fielder gets green light to reopen $1.25M GrainCorp case
Contracts 2020-06-10 6:31 pm By Alison Eveleigh

A court has given Goodman Fielder the green light to reopen its breach of contract case against GrainCorp to submit further evidence on potential damages.

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Colette administrators not liable for rent payments in COVID-19 downturn, court rules
Restructuring & Insolvency 2020-04-15 8:12 pm By Christine Caulfield

Administrators of collapsed retailer Colette by Colette Hayman will not have to pay over $714,000 in rent after court ruled that a temporary rent freeze in light of the COVID-19 crisis was in the interests of the company’s creditors.

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