Banton Group

The judge overseeing a class action against collapsed investment manager Blue Sky has said he would not be inclined to seek clarity from the Full Court on whether the court has the power to make a solicitors common fund order unless one of the defendants raised a challenge.

KPMG has lost the latest round in its fight to transfer a class action over the collapse of steel giant Arrium from Victoria to NSW, with an appeals court finding that a group costs order made in the case could not travel across the border.

A law firm that was replaced after feuding with its funder in a successful class action over Sydney’s light rail construction has lost a bid to keep $1.25 million in security for costs, after claiming it has a right to the money due to unpaid fees.

The Full Federal Court’s finding that the High Court did not extinguish the power of judges to make common fund orders on approval of class action settlements is the latest milestone in the evolution of Australian class action jurisprudence, experts say.

A Federal Court judge’s endorsement of the novel idea of a ‘solicitors’ common fund order’ may reverse the trend of class action lawyers running to the Supreme Court of Victoria, where they can earn a contingency fee, to file their cases.

The law firm on record for a class action over the Sydney Light Rail has been dropped by the lead plaintiffs and replaced by class action boutique Banton Group after the firms’ relationship broke down while running the case together. 

A New South Wales developer’s argument that the Full Court was “plainly wrong” to dismiss the ACCC’s competition case against NSW Ports over the privatisation of two ports is destined for the High Court, a judge has heard. 

Two law firms that have been jointly running a class action against the NSW government over light rail construction in Sydney are now competing to run the case solo, after their relationship broke down and the funder lost confidence in one of the firms, a court has heard.

IG Markets has been hit with a second class action for offering “highly risky and unsuitable financial products” to retail investors, with a third competing proceeding in the works.

A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management.