A court has dismissed a long-running case against defunct Babcock & Brown executives by a private investment fund over a botched $1.4B acquisition of the biggest laundry equipment provider in the US, saying the executives did not breach their duties by failing to disclose that the bank underwriting the deal allegedly wanted out.
Accounting giant Deloitte has failed in its bid to strike out claims made in two shareholder class actions alleging it was careless in auditing the financial statements of electronics retailer Dick Smith ahead of its collapse in 2016.
Deloitte Touche Tohmatsu is facing claims by the lead applicants in two class actions against failed retail giant Dick Smith alleging its poor accounting practices contributed to the retailer’s collapse.
Litigation funder Investor Claim Partner won’t promise it will maintain a lower commission rate in one of the Dick Smith class actions if mediation is delayed to next year.
A Dick Smith shareholder has lost his bid to bring a separate proceeding against the failed home goods retailer while two class actions are afoot.
Hair loss treatment company Advangen International has been ordered to fork over $940,000 to advertising agency Ikon Communications after refusing to pay for an ad campaign it claimed was a flop.
A subsidiary of US-based PetroHunter Energy has defeated calls to toss its case over $70 million in allegedly unpaid contributions and contractual breaches stemming from a joint mining venture in the Northern Territory’s Beetaloo Basin.
The NSW Supreme Court has approved a $44.25 million settlement of two class actions against the trustees of failed debenture issuer Provident Capital, including $12.8 million in legal fees for Slater and Gordon and $4.3 million for funder Litman Holdings.
The New South Wales transportation regulator in charge of the Sydney light rail project says contractor Acciona Infrastructure is delaying a lawsuit over $1.2 billion in fees for the project by repeatedly ignoring requests for pleadings.
Liquidators for Dick Smith don’t want potential group members in two class actions against the failed retailer to learn about a new registration deadline by email, saying it would amount to spam and harassment.