A judge has ordered Australian telecommunications companies Jabiru Satellite and NewSat to pay $1 million in security for costs in a lawsuit against eight major banks alleging they wrongfully withdrew financial support for Australiaâs first independently owned satellite.
Clive Palmerâs mining company Mineralogy has lost a bid to stay an expert determination process in a royalties dispute with Adani, with a judge ruling that the court should not âlightly disregardâ decisions to resolve disputes by expert determination rather than court-based litigation.
NewSat investor Rockgold Holdings has lost its bid to appoint a special purpose liquidator to run a lawsuit against eight major banks after a judge found its proposed 70 per cent funding fee âwholly disproportionateâ.
Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.
The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant’s former CEO and CFO.
Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.
Japanese oil and gas producer INPEX and contractor JKC Australia have settled all claims between them relating to the construction of the $45 billion of Ichthys LNG project.
A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.
A judge has approved a $50 million settlement in a shareholder class action against failed training company Vocation and auditor PricewaterhouseCoopers, but questioned whether the $10.9 million commission and $12.75 million legal bill could have been “materially lower” had the case been run by one funder and firm instead of two.
The judge considering the $50 million settlement reached in the shareholder class action against failed training company Vocation and auditor PricewaterhouseCoopers has signalled his likely approval of the deal, but wants a senior lawyer to tell the court why the funding commission is reasonable.