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ā€˜Elephant in the roomā€™: Judge questions conduct of some lawyers for Banksia legal team
Business of Law 2021-10-19 9:54 pm By Christine Caulfield

Last weekā€™s judgment denouncing the scandalous behaviour of the legal team running the Banksia Securities class action cast a spotlight on the conduct of lawyers for some of the defendants, asking whether ā€œuntenableā€ defences were maintained beyond an acceptable point in the case.

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Settlement talks fail in Pitcher Partners, Arnold Bloch Leibler class actions
Class Actions 2021-10-15 4:05 pm By Miklos Bolza

Two class actions against Pitcher Partners and Arnold Bloch Leibler over advice given ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition will proceed to trial next month after mediation between the parties failed to resolve the cases.

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ACCC officers face pre-trial grilling in ANZ cartel case as judge questions need for committal
Competition & Consumer Protection 2021-10-12 11:24 pm By Christine Caulfield

Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ’s $2.5 billion capital raising six years ago.

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‘Arrogant’ barristers in Banksia class action struck off roll, face criminal probe
Legal Ethics 2021-10-11 5:00 pm By Christine Caulfield

Lawyers running the scandal-ridden Banksia class action have been struck from the roll of practitioners, will face criminal investigation and must pay group members $11.7 million in damages.

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ANZ wins access to JPMorgan settlement chats in cartel case
Competition & Consumer Protection 2021-10-11 2:49 pm By Miklos Bolza

A judge overseeing a cartel case over a $2.5 billion ANZ share placement has granted ANZ’s bid for unredacted documents which the bank says will support its claims that the case should be permanently stayed because of improper dealings between whistleblower JPMorgan, ASIC and the ACCC.

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Day of reckoning arrives for Banksia class action lawyers
Feature 2021-10-08 10:50 pm By Christine Caulfield

It has been described as the darkest chapter in Victoria’s legal history, an exemplar of all that is terrible with class actions in Australia. A case of greedy lawyers who found their golden egg in a group of retirees who had lost their life savings, never thinking the chickens might come home to roost. Until now.

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Arrium directorsā€™ examination for class action not abuse of process, High Court told
High Court 2021-10-07 5:20 pm By Cindy Cameronne

Two shareholders of failed steel giant Arrium have told the High Court that granting their bid to grill former directors of the company would not be an abuse of process because it was in the public interest to ā€œexposeā€ the management of the defunct business.

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Ex-Dick Smith CFO to appeal $43M victory for NAB
Restructuring & Insolvency 2021-10-07 6:25 pm By Miklos Bolza

Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.

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Honda dealers win discovery for possible lawsuit over decision to ditch dealership model
Competition & Consumer Protection 2021-09-29 11:38 am By Miklos Bolza

Two former Honda dealers have won a bid for preliminary discovery against Honda Australia to pursue a potential consumer lawsuit over the car maker’s decision earlier this year to abandon a dealership model in Australia.

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Funder’s critical intervention in liquidator’s case leaves it on hook for costs
Restructuring & Insolvency 2021-09-24 2:50 pm By Bianca Hrovat

A judge has issued a stern warning to litigation funders seeking to take a ā€œgambleā€ on pending court proceedings, ruling they could be held liable for costs if their intervention proves critical to the advancement of the case.

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