SkyCity has set aside $45 million for its legal costs and a possible penalty in AUSTRAC proceedings alleging it allowed $4 billion in suspicious transactions at its casino.
Class actions throw up all manner of ethical conundrums, but a recent Federal Court decision has shined a light on the question of whether funders and law firms should take out loans to run class actions and whether they can charge the costs to group members.
Shine Lawyers has lost its bid to recover $32 million in interest on a loan it took out to run two pelvic mesh class actions against Johnson & Johnson, with a judge finding it would make a âmarginal settlement less than reasonableâ.
The Australian Broadcasting Corporation has defended its reporting of alleged war crimes in a defamation case by ex-commando Heston Russell, saying the debate over whether its stories were in the public interest ârises well above truthâ.Â
Auditor Ernst & Young has filed cross-claims against Blue Sky in a shareholder class action accusing the collapsed investment firm of misleading shareholders by misstating its assets under management.
A source for ABC articles over alleged war crimes that are at the centre of a defamation case by ex-commando Heston Russell told reporters his memory of the events was “hazy”, a court heard Friday.
A judge overseeing four COVID-19 business interruption class actions has questioned a decision by insurers to use ten test cases to resolve the issue of whether they had to indemnify policyholders instead of a class action, which would have been binding.Â
Despite a judge’s complaint that class action costs are generally “out of control”, the law firm that secured a $192.5 million settlement and earned about $25 million in fees in the Montara oil spill case has won approval for more fees — these ones incurred in a hearing to determine how the settlement spoils should be divided.
Shine Lawyersâ bid to recoup “exorbitant” interest on a loan it took out to run pelvic mesh class actions against Johnson & Johnson has raised new ethical dilemmas beyond the usual “sweaty palms and huge vexation” in most group proceedings, a judge has said.
A judge overseeing a class action accusing Virgin Australia of failing to disclose its true financial position in a $324 million capital raising prospectus has joined a dozen insurers to the proceeding, which he said had “regrettably languished”.