QBE Underwriting has defended its decision to deny insurance coverage to the builder of Sydneyâs troubled Opal Tower development, claiming the cracking was not âmajorâ and did not cause last yearâs Christmas Eve evacuation.
The judge who presided over a rare securities class action trial last year against department store Myer will deliver judgment in the case this month that could be the first ruling on causation in Australian shareholder class actions and has the potential to have a chilling effect on law firms bringing the cases.
The High Court has shut down a lawsuit by mortgage aggregator Connective Services over the transfer of one third of the company’s shares after finding the proceeding prejudiced shareholders and contravened the Corporations Act.
The judge overseeing the long-running class action over allegedly faulty Ford PowerShift transmissions has told the applicants they might need to put up considerable cash security to cover the âwar and peace of discoveryâ disputes, after Ford slammed the delayed request for documents as âcomplete and utter nonsenseâ.
Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.
Gaming giant Aristocrat Technologies Australia can look over the tax returns of rival Konami Australia as the two companies prepare for next week’s hearing over how much Konami should pay in damages for patent infringement.
Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor’s case was “flawed” and “counterintuitive”.
The judge overseeing a class action against mineral sands producer Iluka Resources has slammed the submissions from both sides over a bid for an extra $2.6 million in security for costs, calling them âcompletely out of controlâ and “totally out of proportionâ.
A landmark ruling has found judges have the power to order security against litigation funders backing Fair Work class actions, in a decision that could change the landscape of representative proceedings.
After being flooded with phone calls by class members wanting a share of a recent $16.4 million settlement with Cash Converters, law firm Maurice Blackburn will implement an automated message system to handle queries from 164,000 group members in the settled class action against Radio Rentals.