Norton Rose

A judge has approved a confidential settlement in a class action on behalf of 383 apartment owners in Sydney’s Opal Tower but slashed the amount sought by the funder.

The litigation funder bankrolling a class action on behalf of 383 apartment owners in Sydney’s troubled Opal Tower is seeking a 26 per cent commission totalling $13.2 million of the confidential settlement sum, a court has heard. 

White shoe firm White & Case has lured a partner from Norton Rose Fulbright to beef up its competition capabilities in Australia.

Lendlease and other major builders have secured a significant victory in a long-running case brought by the liquidators of failed engineering company Hastie Group, with a judge saying Hastie wasn’t entitled to the proceeds of bank guarantees withdrawn by the builders when it collapsed 10 years ago.

A $13 million commission sought by the funder that bankrolled the Opal Tower class action is stalling settlement approval, as debate continues over whether the funder can recoup the costs of after-the-event insurance from group members.

Two former executives of defunct electronics retailer Dick Smith have asked the High Court to hear their challenge to a $11.8 million damages award for approving a dividend payment the company could not afford.

The Australian unit of Mylan is challenging the ATO’s rejection of a $48 million deduction  for 2020 in the generic drug company’s latest spat with the tax office over interest on loans to fund its $1.2 billion acquisition of generic drug maker Alphapharm.

Engineering services firm G&S has lost a bid to shield emails about “the need to obtain legal advice” in a $270 million dispute with the operator of a NSW open-cut coal mine.

Online book retailer Booktopia has agreed to a $6 million penalty to resolve action brought by the consumer regulator alleging its refund policy was misleading.

An appeals court has found that two former executives of collapsed electronics retailer Dick Smith should pay the company’s receivers $11.8 million in damages for approving a dividend payment the company could not afford.