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Funder wants 25% of recovery in class action over ‘illusory’ vehicle warranties
Class Actions 2019-08-14 9:23 pm By Christine Caulfield

The funder behind a class action against a unit of car leasing company McMillan Shakespeare for allegedly engaging in unfair tactics when selling car warranties is seeking a 25 per cent cut of any settlement reached in the case.

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ICAP scolded for ‘interlocutory skirmishes’ in employee poaching spat
Employment 2019-08-14 3:57 pm By Miklos Bolza

A judge has criticised two units of global finance firm TP ICAP Group for “unnecessary and over technical interlocutory skirmishes” as they seek damages from two employees who jumped ship to a competitor and allegedly tried to poach staff.

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UGL settles shareholder class action over $900M Ichthys LNG project
Class Actions 2019-08-09 4:54 pm By Cat Fredenburgh

Engineering company UGL has reached an in-principle settlement in a class action alleging it kept shareholders in the dark about problems with a $900 million contract for a power plant for the Ichthys LNG project in the Northern Territory.

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Lendlease points finger at shareholders in class action defence
Class Actions 2019-08-08 5:58 pm By Miklos Bolza

Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.

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Judge says ASIC should have brought Murray Goulburn bosses to court ‘a long time ago’
Securities 2019-08-02 11:59 pm By Christine Caulfield

A judge on Friday asked the corporate regulator why it delayed action against former Murray Goulburn managing director Gary Helou and CFO Bradley Hingle until two years’ after the consumer watchdog brought its case against the pair.

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ACCC proposals could hurt more than just Google and Facebook
Competition & Consumer Protection 2019-08-02 9:08 pm By Cat Fredenburgh

While the Australian Competition and Consumer Commission has set out to rein in the market power of Google and Facebook, the sweeping proposals in the regulator’s final digital platforms report would affect a large number of businesses and could have a detrimental effect on smaller companies and innovation, lawyers say.

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ASIC dragged ‘kicking and screaming’ to produce docs, ex-Tennis Australia director says
ASIC 2019-08-01 8:55 pm By Miklos Bolza

Former Tennis Australia director Harold Mitchell has told a court that the corporate regulator had to be dragged “kicking and screaming” to produce documents in its enforcement action over alleged breaches of directorial duties involving negotiations for the Australian Open broadcast rights.

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Ex-Tennis Australia’s Harold Mitchell wants ASIC’s evidence from deceased former director
ASIC 2019-07-30 2:03 pm By Cat Fredenburgh

Ex-Tennis Australia director Harold Mitchell, facing enforcement action by ASIC alleging he breached his duties in awarding Australian Open broadcast rights to the Seven Network, has asked a court for all evidence the regulator obtained from former board member Graeme Holloway, who died in February.

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Judge promises no ‘mystery tour’ in Takata air bags class actions
Class Actions 2019-07-25 4:23 pm By Miklos Bolza

The judge overseeing seven class actions against car makers over defective Takata airbags has shot down the applicants’ opposition to a soft class closure order in advance of mediation, saying the cases would not be a “mystery tour” from here on out.

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Iluka threatens class action dismissal bid amid ongoing funding concerns
Class Actions 2019-07-24 9:19 pm By Amelia Birnie

Mineral sands producer Iluka Resources is threatening a dismissal bid in a shareholder class action it has spent $2 million fighting over the past year, amid concerns proposed security could be inadequate and the applicant has still to finalise an agreement with a litigation funder.

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