The son of controversial class action lawyer Mark Elliott has hired a big gun barrister to represent him in the Banksia class action proceedings and will be asking the judge overseeing the case against him to step aside.
Lawyer Alex Elliott, the son of the funder behind the Banksia Securities class action, has been ordered to give a “full, frank and honest” explanation of his role in an alleged fraudulent scheme to inflate legal fees in the case, and he risks his career if he’s not forthcoming.
The son of controversial funder and lawyer Mark Elliott has been joined to proceedings alleging the lawyers behind the Banksia Securities class action conspired to pocket excessive fees in the case, after a court heard there was a “litany” of evidence he was party to the alleged fraudulent scheme.
Disgraced senior counsel Norman O’Bryan and the son of deceased lawyer Mark Elliott are among the targets of a summons for $7 million in legal bills racked up in the fight over commission and costs in the Banksia Securities class action, a fight that has already claimed the career of O’Bryan and another barrister.
The solicitor on the record in a class action over the collapse of Banksia Securities has admitted that he never asked to see the fee slips of one of the barristers acting in the case, conceding that this was a âgross dereliction’ to his clients.
An independent costs consultant retained to assess the legal fees sought to be recouped from a settlement in a class action over the collapse of Banksia Securities has denied he was the âdogsbodyâ of funder Mark Elliott during a fiery cross examination at trial over the costs of the litigation.
A week after silk Norman OâBryan dropped his defence against allegations of misconduct in the running of a class action over the failure of Banksia Securities, his junior counsel, Michael Symons, has also conceded defeat, telling a court he too should be struck off the practitionersâ roll.Â
Insurance policies that may be worth up to $46 million and have derailed settlement approval in two class actions against sandalwood producer Quintis were “cobbled together” and contained errors and omissions, a court has heard.
Barrister Norman O’Bryan has accepted that he should be struck from the roll of legal practitioners after dropping his defence mid-trial against claims of professional misconduct as senior counsel for a class action financed by the late Mark Elliott, but the consequences for the once high-flying silk might not end there.
Receivers appointed in the wake of the collapse of Banksia Securities may seek costs orders against the estate of deceased funder and class action lawyer Mark Elliott, a court has heard. Meanwhile, the Victorian Bar says it has âevery confidence in the judicial processâ after senior counsel Norman OâBryan yesterday abandoned his defence of misconduct allegations stemming from the case.