Companies linked to the wife of the disgraced Banksia Securities class action silk Norman O’Bryan have offered $1.25 million to settle proceedings seeking to recover a $21.5 million judgment for defrauded investors.
In a class action long delayed by a battle over foreign shareholders, BHP Group has finally filed a defence, denying it misled shareholders over a failed Brazilian dam and saying knowledge about the risk of collapse cannot be imputed to the Melbourne-headquartered energy giant.
A court has heard that casino giants Crown and Star are likely to reach agreement with AUSTRAC as to liability in proceedings alleging “widespread and serious non-compliance” with anti-money and counter terrorism laundering laws.
A class action on behalf of businesses claiming harm from the 2020 hotel quarantine debacle has staved off the state of Victoria’s bid for a stay pending a criminal action against the Department of Health.
Companies associated with the wife of disgraced senior barrister Norman O’Bryan can’t get a new judge to hear their battle against a third-party costs summons that would make them jointly liable for a $21.5 million judgment for investors in a class action over Banksia Securities’ collapse.
A class action on behalf of businesses claiming harm from the 2020 hotel quarantine debacle has fought back against the state of Victoria’s bid to push the case off until a criminal action against the state’s Department of Health has been heard.
A judge has pulled up legal teams in a class action against the state of Victoria on behalf of businesses that allegedly suffered loss from the 2020 hotel quarantine debacle, saying progress in the case has been “extremely slow”.
The judge whose ruling against the legal team behind the Banksia class action fraud helped redeem the battered reputation of the civil justice system may be asked to disqualify himself from the final fight in the drawn out case.
A judge has signed off on a group costs order in a shareholder class action against food company Noumi and auditor Deloitte guaranteeing group members a return of at least 78 per cent, but noted the law firms’ cut may need to be reviewed to avoid a “disproportionate return”.
In a boost to shareholder class actions, the High Court has dismissed an application by engineering services firm Worley to appeal a finding that companies should disclose to the market forecasts that ought reasonably to have been held.