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A judge has sent insolvency firm Ferrier Hodgson back to the drawing board to redraft its pleadings against the former directors and auditors of collapsed construction company Forge Group, warning that the overlapping actions were at risk of becoming an “unrideable bull”.
Law firm Quinn Emanuel Urquhart & Sullivan will push forward with an investor class action against failed engineering company RCR Tomlinson on its own, with two firms driving competing actions agreeing to step down after a judge forcibly consolidated all three proceedings.
The plaintiffs in an investor class action brought against the insurers of Dick Smith have lost an early bid to determine the viability of their claim, amid concerns that the total value of five separate cases against the failed retailer will exhaust the $300 million limit of two insurance policies.
Jailed solicitor and fraudster Brody Clarke was not the mediocre, junior lawyer his boss at Sydney law firm Atanaskovic Hartnell made him out to be, a judge has said, but was considered a "young hot shot" who perpetrated a "catastrophic" $9 million fraud on media mogul Bruce Gordon in the scope of his employment.
The parties in two shareholder class actions brought against online fashion retailer Surfstitch will make one “last, final attempt” to resolve the proceedings in mediation after a proposed settlement was thwarted by a judge last year, a court heard Friday.
The plaintiffs in three competing RCR Tomlinson shareholder class actions have been told to “get their act together” by the judge who forcibly consolidated their proceedings, after the parties revealed they were as yet unable to agree on joint funding terms.
Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.
The judge overseeing three competing shareholder class actions brought against RCR Tomlinson has refused to entertain a beauty contest, instead deciding to consolidate the proceedings whether the parties “agree or not”.
Three shareholder class actions against RCR Tomlinson have been allowed to continued, setting up a class action beauty contest over who will lead the litigation against the failed engineering company.
Two class actions against collapsed engineering firm RCR Tomlinson may be dismissed earlier than expected unless the Supreme Court allows them proceed against a liquidator who has said the failed company is strapped of funds.