A law firm has reached a settlement with the lender of a property development in North Melbourne, paying $1 million to resolve claims it was negligent in preparing a loan agreement.
Investment manager Merricks Capital has resolved its case against a former managing director and two employees, who left the firm for a boutique run by financial commentator Peter Switzer and his son, Marty.
A judge has rejected arguments that Virgin Australia waived legal professional privilege over advice from Herbert Smith Freehills by claiming in a class action defence that it had a reasonable belief that statements in a prospectus for a $324 million capital raising were not misleading.
National Australia Bank has lost its bid to shield a case by a Melbourne gold bullion dealer after a judge said one of the bank’s arguments for suppression had “the air of a Kafka novel”.
An investor class action against Virgin Australia has mounted a new challenge to a contentious indemnity clause, which the airline claims entitles it to receive periodic payments for its legal costs in defending the claims.
The judge hearing a bondholders class action against Virgin Australia has deferred the resolution of the airline’s cross-claim seeking seeking periodic payments from the class action to cover its costs under a contentious indemnity clause.
The High Court has been asked to weigh in on the extent of advocate’s immunity in a dispute between a Sydney solicitor and his former clients, after an appeals court found he couldn’t be sued for negligence for failure to include a breach of contract claim in a building dispute.
A class action against Virgin Australia has become a lawyers’ feast, with seven new firms entering the ring after a dozen insurers were joined to the action alleging the airline failed to disclose its true financial position in a $324 million capital raising prospectus.
Insurer Vero is fighting a ruling that added it to a class action against cladding manufacturer Fairview Architectural over allegedly combustible cladding.
A judge has ruled insurer Vero can be added to a class action over allegedly combustible cladding, finding removal of the cladding could be considered “property damage” under the wording of an insurance contract with cladding manufacturer Fairview.