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Judge questions whether Banksia class action lawyers should be struck off roll
Class Actions 2020-07-30 9:11 pm By Alison Eveleigh

The judge overseeing a trial over legal fees and funding commission in the Banksia Securities class action has questioned whether the lawyers behind the case should remain on the roll of practitioners if allegations of misconduct aired in the hearing so far — which include billing for phantom costs — are made out.

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ACCC loses appeal in TPG ‘prepayment’ case
Competition & Consumer Protection 2020-07-30 3:13 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission has come up short in its challenge to a ruling that dismissed its case against TPG over contract terms that allowed the internet provider to keep customers’ unused prepaid funds on phone or internet plans.

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Mark Elliott was Banksia class action lawyer’s ‘puppet master’, court told
Class Actions 2020-07-29 10:16 pm By Alison Eveleigh

Lawyer Mark Elliott was the “puppet master” behind the Banksia class action, retaning an old school mate to represent the lead applicant but in reality funding and running the proceedings with barristers Norman O’Bryan SC and Michael Symons to line their pockets at the expense of group members, a court has been told.

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AMP hit with class action by financial planners
Financial Services 2020-07-29 12:54 pm By Christine Caulfield

AMP has been hit with a cliass action by a group of financial planners over changes to its buyer of last resort policy last year, which cut the number of authoried advisers and retreated from a promise to buy back their businesses at a price based on a set multiple.

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Banksia class action was ‘party like no other’ for Mark Elliott and barristers, court told
Class Actions 2020-07-28 11:00 pm By Alison Eveleigh

The funder and legal team behind a class action over the collapse of Banksia Securities billed for phantom costs in a ā€œfraudulent schemeā€ to secure almost $20 million from the case, the contradictor investigating the purported misconduct has told a court.

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Banksia class action funder admits court was misled on fees, says commission shouldn’t suffer
Class Actions 2020-07-27 5:46 pm By Christine Caulfield

The litigation funder behind the class action over Banksia Securities’ collapse has admitted it misled a costs consultant retained to report to the court on the reasonableness of the fees in the case, but says its commission should not take a hit as a result because the misconduct occurred after the litigation settled against Banksia’s trustee for $64 million.

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Online gig platform fined $600,000 for misleading reviews
Competition & Consumer Protection 2020-07-22 11:03 pm By Cat Fredenburgh

Online odd jobs platform Service Seeking has been fined $600,000 for falsely representing that reviews on its platform were written by customers when in fact they were written by the businesses themselves.

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Ashurst partner hit with indemnity costs in Point Piper property feud
Real Estate 2020-07-22 10:26 am By Christine Caulfield

An Ashurst partner in a long-running stoush with his former Family Court judge neighbour over a property in the harbourfront Sydney suburb of Point Piper has been hit with indemnity costs for “unreasonably” pushing his case.

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Kogan misled customers with tax promotion, court finds
Competition & Consumer Protection 2020-07-17 12:45 pm By Miklos Bolza

The Australian Competition and Consumer Commission has succeeded in its case against Kogan, with a judge finding statements the online retailer made during a 2018 promotion were misleading and drew consumers into the company’s “marketing web”.

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Elaine Stead says in-person mediation ‘waste of time’ in Nine defamation case
Defamation 2020-07-16 12:24 pm By Miklos Bolza

Venture capitalist Elaine Stead has refused to go into a second round of mediation in her defamation case against the Nine-owned Fairfax Media Publications saying it would be a “waste of time”.

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