With the legal industry looking for ways to “share the pain” among staff amid a potential slowdown in work due to the coronavirus, several top-tier firms told Lawyerly they had no immediate plans to slash salaries or reduce staff hours.
Construction giant Icon has filed a cross-claim against the prefab concrete company behind the ill-fated Opal Tower, seeking to recover at least part of almost $28 million in losses spent after cracks in the building caused residents to evacuate in 2018.
Equity partners at MinterEllison have agreed to cut their draws by 50 per cent and permanent staff have been asked to purchase six weeks’ leave as part of measures to weather the COVID-19 crisis.
Law firm Gadens and partner Andrew Denehy have been hit with a lawsuit by the director of Modscape alleging a letter to the Victorian Building Authority questioning the financial probity of the director and the design company was false and malicious.
The litigation funder controlled by recently deceased class action lawyer Mark Elliott has lost its bid for a 12.5 per cent commission of a $5.5 million settlement secured by the special purpose receivers of Banksia Securities in its claim against the collapsed firm’s former insurance broker.
The hunt for the missing Blackberry of deceased class action lawyer and funder Mark Elliott is over, and the located phone will now be examined by IT experts to see if it can be searched for potential evidence to be used as part of an investigation of alleged professional misconduct by the legal team behind a class action against failed Banksia Securities.
As states across Australia shut down non-essential services and close borders in the battle to control the spread of the coronavirus, companies are turning to their lawyers for guidance on everything from contracts to disclosure obligations, staff reductions to workplace health and safety issues. Lawyerly talked to practitioners to find out what was on the minds of their corporate clients.
For the lawyers conducting the committal hearings in the criminal cartel case over ANZ’s $2.5 billion equity raising, the Sydney Downing Centre courtroom was already too close for comfort.
A judge has given his blessing to a $49.7 million settlement of two class actions that alleged infant food maker Bellamy’s misled investors about its China growth strategy and declining market share in Australia.
The builder behind the ill-fated Opal Tower has lost its opposition in the NSW Supreme Court to a $3.9 million guarantee requested by the property’s developer, after a judge found it had not proved compliance with its contractual obligations.