ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, in ASIC’s case alleging the bank breached its continuous disclosure obligations by failing to alert the market to the bailout.
A judge has ruled Scenic Tours can cross-examine class action members without seeking approval from referees, who will oversee a process for assessing amounts owed to them, after the tour operator mostly lost its appeal of a judgment that put it on the hook for damages to disappointed cruise goers.
A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.
A barrister’s $320,000 bill for a case initially estimated to cost $60,000 in counsel fees was at the centre of an appeals court hearing Monday, and the dispute mirrors another battle between the practitioner and his instructing solicitor involving a cost blowout of a quarter of a million dollars.
A judge has found that lead plaintiffs in a class action by commercial fishing operations against Gladstone Ports can bring new claims out of time, saying it would be “grossly inconsistent” if group members had broader limitation relief than representative parties.
The High Court has been asked to weigh in on whether online ads targeting Australian consumers can be the basis for a trade mark registration, in a long-running intellectual property spat between the maker of Mother Energy drinks and Vittoria Coffee over their respective ‘mother’ marks.
The High Court has agreed to hear the appeals of two former Dick Smith exes following judgments that awarded a total of $55 million in damages to NAB and the receivers of the defunct electronics retailer.
A class action has been filed on behalf of 25 people whose loved ones died during a COVID-19 outbreak at the Newmarch House in Sydney.
Cruise operator Scenic Tours is stuck with a $10 million damages bill but has avoided paying for disappointed traveller’s flights, after an appeals court mostly rejected its appeal of an award to travellers who were promised a “once in a lifetime cruise along the grand waterways of Europe” but were instead forced to take the bus.
The state of Victoria is trying again to stay a class action over the 2020 hotel quarantine debacle in light of a pending criminal action against the Department of Health, telling an appeals court the fundamental principles of the criminal justice system must be protected.