A judge has ordered all proceedings against Dick Smith to be heard concurrently during a marathon three month trial, after the plaintiffs in a shareholder class action brought against the failed electronics retailerâs insurers aborted a fleeting bid to temporarily discontinue their case.
Two former Dick Smith directors targeted by dual class actions have expanded their case against Deloitte over the retailer’s 2016 collapse, saying if the company was found liable for shareholder losses then the auditor should be blamed for its shoddy work on the company’s financial statements during its float three years earlier.
The plaintiffs in an investor class action filed against Dick Smith’s insurers want a separate hearing from four other representative and company proceedings against the failed electronics retailer, arguing there would be only the âthinnest basisâ for concurrent proceedings if their strike out application was successful.
Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
The special purpose liquidator appointed to four companies in the collapsed James Estate Wines group has been given the go-ahead by a judge to enter into a litigation funding arrangement with the conglomerate’s former director and pursue $57.1 million in potential claims against ANZ Banking Group.
Bellamy’s has lost its appeals court battle to limit the costs incurred by lawyers jointly running two shareholder class actions against the baby food maker.
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.
Two former executives of Dick Smith may seek to vacate an upcoming trial date for two class actions against the failed retailer, after recently being hit with cross claims by the companyâs former auditor, Deloitte.
Allianz and a number of other insurers of Dick Smith are now facing a class action over the extent of coverage under an insurance policy for the collapsed electronics retailer’s initial public offering.
A judge has dismissed failed winemaker David James latest bid to overturn a $14 million guarantor judgment against him and in favour of ANZ, saying much of his sworn evidence was âmanufacturedâ and âobviously tailored to suit his caseâ.