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Shareholders of collapsed vocational training company Vocation are poised to get about half of a $50 million settlement reached last month in a complex, long-running class action alleging the company failed to make adequate disclosures about its contracts with the Victorian Department of Education.
A Federal Court judge taking over a shareholder class action against IOOF Holdings from a recent High Court appointment has lamented the lack of progress in the case, which has been ongoing for nine months.
A judge has appointed a provisional liquidator to a company owned by missing Sydney businesswoman Melissa Caddick, while criticising ASIC for not cooperating with her brother who is seeking to vary asset preservation orders made over his sister's property.
The Federal Court judge who is now overseeing a high stakes criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement has ordered that an indictment be filed by February 1, telling the parties "we have to get this case moving" and that he hoped to move the matter to trial "before we all retire".
A class action has been filed against the trustee and responsible entity of the Mayfair Group's IPO Wealth Fund, which was wound up in September after $86 million of investor funds were lost.
A judge has thrown out the portion of a lawsuit brought by an ANZ trader who was sacked in 2015 that was brought under enhanced whistleblower protections that took effect in 2019, saying the civil remedy provisions do not apply retrospectively.
ASIC has launched civil penalty proceedings against Union Standard International Group and its former authorised representatives alleging the embattled Sydney-based forex broker traded in margin products with Chinese clients despite knowing it was illegal under Chinese law.
Embattled Mayfair Group director James Mawhinney is under pressure to secure legal representation to defend his companies against a misleading and deceptive conduct case brought by ASIC, but the Big Six firm he has in mind has yet to commit.
A judge has allowed documents obtained from examination proceedings against directors of Linchpin Capital to be used in a class action against the failed financial services group.