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‘Not an idle or disinterested bystander’: Funder hit with costs for failed real estate case
Real Estate 2020-05-27 7:51 pm By Cat Fredenburgh

A court has ruled that a litigation funder backing an unsuccessful real estate lawsuit by two broke plaintiffs must cover the legal costs after finding that the funder’s goals in the case were “more to serve its own commercial and financial ends” than to assist its clients.

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Atanaskovic Hartnell loses fee fight with company fleeced by Brody Clarke
Business of Law 2020-05-18 11:35 am By Miklos Bolza

Atanaskovic Hartnell has mostly come up short in a court battle for over $172,000 in legal fees, with a judge finding the law firm was in a “manifest position of conflict” in its dispute with two media companies defrauded by one of its former lawyers, Brody Clarke.

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Ashurst partner faces eviction from Point Piper home
Real Estate 2020-05-06 12:51 pm By Miklos Bolza

An Ashurst partner is at risk of being evicted from his Point Piper home after allegedly refusing to pay a $150,000 special levy.

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Icon seeks to recoup Opal Tower losses in latest class action cross-claim
Class Actions 2020-04-02 4:54 pm By Miklos Bolza

Construction giant Icon has filed a cross-claim against the prefab concrete company behind the ill-fated Opal Tower, seeking to recover at least part of almost $28 million in losses spent after cracks in the building caused residents to evacuate in 2018.

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Short seller Bonitas ordered to pay $900,000 over misleading report on Rural Funds
Securities 2020-04-01 9:52 pm By Christine Caulfield

Activist short seller Bonitas Research must pay Rural Funds Management almost $900,000 after the US-based Bonitas was found to have engaged in misleading or decpetive conduct in issuing a report describing the agricultural fund manager’s equity as “ultimately worthless”.

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‘Forensic voyeurism’: Judge denies BHP bid for docs in $36M spat with insurers
Insurance 2020-03-10 8:58 pm By Miklos Bolza

A subsidiary of BHP Billiton can’t get its hands on underwriting documents in its case against Lloyd’s of London and Berkley Insurance, which are being sued by the mining giant for over $36 million after allegedly substandard equipment was installed at its Olympic Dam Mine.

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Rural Funds wants $625,000 in damages from US short seller Bonitas
Securities 2020-03-06 12:48 pm By Miklos Bolza

Agricultural fund management firm Rural Funds Management is seeking over $625,000 in damages from US short seller Bonitas Research, which was found by the NSW Supreme Court to have engaged in misleading and deceptive conduct in a report describing RFM’s equity as “ultimately worthless” that sent the firm’s share price plummeting.

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‘I never liked common fund orders anyway’: Judge gives thumbs up to High Court ruling
Class Actions 2020-02-28 12:53 pm By Miklos Bolza

A  judge overseeing a shareholder class action against collapsed engineering group RCR Tomlinson has said goodbye to the common fund order in the case while welcoming last year’s High Court decision preventing these orders from being made at the early stage in class actions.

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Courts criticised for losing sight of justice in Takata airbag class closure challenge
Class Actions 2020-02-19 8:38 pm By Miklos Bolza

The lead applicants in seven class actions against auto manufacturers over explosive Takata airbags have criticised the courts for losing their way in ensuring justice is done, in a landmark challenge to class closure orders made in the cases.

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Rural Funds wins unprecedented case against activist short seller Bonitas
Securities 2020-02-12 10:55 pm By Cat Fredenburgh

Australian agricultural fund manager Rural Funds Group has won its legal action alleging US short seller Bonitas Research engaged in misleading and deceptive conduct when it described the group’s equity as “ultimately worthless” and sent its share price plummeting.

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