The Federal Court’s, albeit not total, approval of common fund orders, the impacts of the COVID-19 pandemic and the likely approval of contingency fees in Victoria mean that, more than ever, litigation funders and plaintiff law firms will be on the lookout for class actions, says Alex Haslam of Gilchrist Connell.
The settlement sum in three class actions against law firms that allegedly gave negligent advice about property investments in the now-defunct Ralan Group has been suppressed, after the court heard there was a risk of future claims being brought.
Three Sydney-based law firms have agreed to settle the class actions brought against them by Australian-Chinese investors seeking over $6 million in damages for allegedly negligent advice provided about investment properties developed by the now collapsed Ralan Group.
The coronavirus has forged changes in the legal profession that will outlast the pandemic itself, leading to greater flexibility and efficiencies in an industry steeped in tradition and notably slow to adopt new technologies, sources told Lawyerly.
Sparke Helmore has admitted that legal advice it provided to IOOF subsidiary Australian Executor Trustees was inadequate but has argued it should be responsible only for up to 10 per cent of the $76.6 million judgment against AET over the sale of a timber plantation by collapsed forestry giant Gunns Group.
Sparke Helmore is equally responsible for a $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by collapsed forestry giant Gunns Group, an appeals court heard Thursday.
With a large number of lawyers now working from home amid the coronavirus crisis, law firms are getting creative, turning to virtual yoga, cocktail deliveries and more to maintain the health and well-being of their staff.
Three Sydney-based law firms are now facing claims by Australian-Chinese investors seeking over $6 million in damages for allegedly negligent advice provided about investment properties developed by the now collapsed Ralan Group.
A class action seeking almost $2 million in damages has been launched on behalf of Australian-Chinese investors against a Sydney law firm over advice on investment properties sold by the now collapsed developer Ralan Group.
An IOOF subsidiary has appealed a $76.6 million judgment finding it breached its duty in the sale of a 46,000 hectare plantation by collapsed forestry giant Gunns Group and shooting down its cross claim seeking to pass liability onto law firm Sparke Helmore.