The new federal corruption watchdog that commenced operating Friday will likely turn its sights first on the award of public grants, and is expected to face a “huge backlog” of referrals.
A judge overseeing a shareholder class action against Insurance Australia Group says more evidence is needed to back the applicant’s bid for an order giving lawyers 30 per cent of any recoveries.
Mining magnate Clive Palmer and his company Mineralogy have lost a bid to amend one of two cases that claim losses totalling $4 billion against CITIC after a judge found the amended claims would be “unfairly general”.
A judge has approved a $29 million settlement in a class action against Westpac over ‘junk’ consumer credit insurance, a deal that earns the bank’s customers at least $19.6 million.
A judge has admonished a class action applicant over continuing delays in a four-year-old class action against NAB which he said “should not be allowed to languish any longer”.
A judge overseeing a $192.5 million settlement in an oil spill class action against PTTEP Australia on behalf of Indonesian seaweed farmers has balked at the “very large” costs sought by Maurice Blackburn for administering the deal, expressing concerns that class action costs are “getting out of control”.
A $47 million settlement in a class action against ANZ — one of three settlements in a series of class actions against the big banks over ‘junk’ consumer credit insurance — was fair and reasonable, a judge has said.
A shareholder class action against KPMG and the directors of defunct mining company CuDeco is seeking insurance information and a limited number of documents from the directors ahead of mediation, to avoid a “train wreck” of a case, a court has heard.
Mining magnate Clive Palmer and his company Mineralogy have lost a bid to block subpoenas asking their advisors to hand over information regarding the sale of Townville’s Yabulu nickel and cobalt refinery, as part of a $1.8 billion fight over the value of the site.
Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator’s serious breaches of the anti-money laundering and counter-terrorism financing laws.