Two former barristers ordered to pay at least $21.7 million in damages and costs for their role in a fraudulent scheme to pocket a windfall from the Banksia Securities class action have filed for bankruptcy.
The Banksia Securities class action saga will return to the appeals court, with a lawyer indicating he plans to challenge last month’s ruling that found he knowingly assisted in a plot to defraud tens of thousands of investors in the collapsed lender.
Three law firms and a consultancy are fighting a bid by defunct financial advisor Dover Financial to bring negligence claims against two lawyers over a so-called client protection policy found to be “an exercise in Orwellian doublespeak”.
A McDonaldâs franchise has been hit with a lawsuit accusing it of deliberately withholding workersâ paid rest breaks and committing âhorrifyingâ and âshamefulâ violations of the Fair Work Act, the seventh such lawsuit to be filed by the union representing fast food workers.
Legislation capping litigation funder returns in class actions to 30 per cent and requiring group members to sign up to funding schemes has been introduced to federal parliament despite widespread criticism.
Two law firms accused of providing negligent advice to Dover Financial over a so-called client protection policy found to be “highly misleading” have argued the defunct financial advisor should not be able to recover the $1.2 million penalty it was ordered to pay.
A judge has rejected a request to discontinue a class action on behalf of investors in failed music streaming platform Guvera, saying it was âdifficult to understandâ why the applicants had launched the case as a class action in the first place.
Last weekâs 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 âuntenableâ defences were maintained beyond an acceptable point in the case.
Law firm Colin Biggers & Paisley has pulled off a merger in the middle of lockdown, acquiring a Melbourne law firm that will boost its partner count by six.
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.