The auditors of self-managed superannuation funds that clients of Melissa Caddick invested with the Sydney fraudster and her company Maliver have hit back at class action claims, saying the clients have themselves to blame for handing over “direct control” of their funds.
A judge’s decision to chop $810,000 from the funder’s cut of a settled class action against Westpac sounds a warning to class action litigators that when it comes to determining the size of a commission, case budgets matter.
A $29.95 million settlement resolving a superannuation class action against two Westpac units has won court approval. The judge overseeing the case has also indicated he will OK the litigation funder’s commission but only some of its after-the-event insurance premium.
Twenty-four former clients of Melissa Caddick who were defrauded out $24.5 million have filed a class action against the auditors of the self-managed superannuation funds they used to invest their retirement savings with the Sydney fraudster.
The receivers of Melissa Caddick’s estate have reached an in-principle agreement with the Sydney frauster’s husband and son in relation to the division of a small number of remaining assets.
The judge overseeing the receivership of Melissa Caddick’s estate has pushed off a dispute about a collection of sneakers held by the deceased fraudster’s teenaged son, including one pair that could be worth up to $12,000.
The parents of deceased fraudster Melissa Caddick will take $950,000 to move out of a multi-million dollar property in Sydney’s East, which will now be sold by receivers.
The parents and receivers for accused Sydney fraudster Melissa Caddick have reached a deal over a multi-million dollar property in Sydney’s East, but the compromise remains to be blessed by out-of-pocket investors.
Personal lender ClearLoans and its parent company have agreed to pay penalties of just over $6 million to settle the first COVID-19 related case brought by the Australian Securities and Investments Commission.
The sole director of personal lender ClearLoans has agreed to settle the first case the Australian Securities and Investments Commission brought related to the COVID-19 pandemic.