Forum Finance director Bill Papasā cousin has hit back at Westpacās allegations he wrongfully received $720,000 from the alleged fraudster in violation of freezing orders made in the bankās lawsuit, which seeks to recoup $294 million paid into an alleged fraudulent scheme.
If evidence were needed that courts are not rubber stamping class action settlements, the scrutiny of multi-million dollar agreements in 2021 is proof positive that judicial oversight of representative proceedings is robust.
Accounting giant KPMG is seeking the dismissal of a lawsuit brought by a former long-serving employee over āunnecessarily aggressive, belittling and disproportionateā emails allegedly attacking his professional integrity.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion’s share, with $672 million in settlements under its belt.
Forum Group’s liquidators are seeking to wind up an entity owned by founder Bill Papas that received over $2.6 in “loans” from the alleged fraudster, as they work to recoup almost $400 million allegedly defrauded from three banks.
Saying it will only benefit the law firm and lead applicants, a judge has refused to approve a settlement in an underpayments class action against supermarket giant Woolworths, which would see no payout to employees.
Two major Zip Co investors have sued Merrill Lynch for allegedly breaching its duties as financial advisor by recommending they sell their shares in the Aussie fintech after September 1 last year, at which point Paypal’s announcement that it would enter the buy now, pay later market had sent Zip’s share price plummeting.
Shareholders in a class action against failed steel giant Arrium and KPMG are seeking an unredacted version of an audit file by KPMG to probe the accounting giant’s handling of the steel producer’s financial statements before its collapse in April 2016.
The former chief financial officer of beleaguered Forum Group has been dragged into a lawsuit by Westpac seeking to recoup $294 million in funds paid into an alleged fraudulent scheme.
Two law firms are seeking court approval to drop class actions brought on behalf of allegedly misclassified casual coal miners, in light of a High Court decision that “radically” decreased their chances of success.