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The ruling by the Full Federal Court that funded class actions are not managed investment schemes marks the end of an ill-considered regime enacted by the Morrison government to rein in class actions, but the debate over regulation of litigation funders is not over yet.
In a significant victory for litigation funders, the Full Federal Court has found that funded class actions are not managed investment schemes subject to regulatory oversight, gutting the legal basis for reforms enacted by the Morrison government in 2020.
A judge has hit pause on the ATO's application for summary judgment in proceedings launched by ex-Bellamy's Australia director Jan Cameron seeking declarations that a Carribean-based trust does not owe capital gains tax for selling shares in the baby food maker.
A judge has allowed two law firms to jointly run a consolidated shareholder class action against dairy company a2 Milk, saying the arrangement was in the interests of group members and was "not novel".
A judge has rejected a court-appointed costs assessor’s opinion that engaging a silk to fight an interlocutory application in a spat between two Queensland law firms was “plainly a luxury”.
Former Commonwealth Bank subsidiary Avanteos Investments has been slugged with a $1.7 million penalty after pleading guilty to charges it failed to update disclosure statements on products that continued to deduct adviser fees from accounts of dead superannuation members.
A judge has given his approval to the takeover of Crown Resorts by US private equity group Blackstone.
A judge has questioned whether class actions are the best way to resolve underpayment disputes during a hearing on a settlement in two class actions against supermarket chain Romeo's, which one group member called “criminally unfair.”
The law firm that's running a shareholder class action against payment processing company EML will seek a group costs order for a 30 per cent cut of the suit's proceeds.
Recycling company Sims Limited will pay $29.5 million to settle a shareholder class action alleging earnings guidance for FY16 failed to account for the likely prospect of falling scrap metal prices.