The judge overseeing two class actions over legal and accounting advice given ahead of Slater & Gordon’s disastrous Quindell acquisition has said he will hear the cases together, citing the “dangers” of the approach taken in litigation against GetSwift, which resulted in a judge being ordered to step down.
Law firm Herbert Smith Freehills has attacked a lawsuit brought by a group of lenders against collapsed steel giant Arrium, rejecting claims that $430 million in loans was borrowed under misleading or deceptive representations.
The former group treasurer of collapsed steel giant Arrium has hit back at claims brought by the company’s liquidators that it was trading while insolvent, arguing the case had been ‘infected’ by evidence from an expert who was also a plaintiff in the case.
Doomed iron and steel giant Arrium attempted to stave off its inevitable $2.8 billion collapse and put off negotiating with its lenders until the last minute despite warnings from its legal and financial advisors, liquidators for the company told the court.
Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.
The State of Queensland and subcontractor Sunwater have agreed to pay $440 million to settle part of a class action over the 2011 floods in Queensland that destroyed 2,000 homes in the state.
A Federal Court judge overseeing two franchisee class actions against 7-Eleven has heard a landmark application for pre-trial oral discovery that could create another tool for lawyers to source evidence otherwise blocked by confidentiality agreements.
The directors of steel giant Arrium, which collapsed owing $4 billion in debts, should have known earlier that the company was in a “liquidity crisis” and was trading while insolvent, liquidators for the company allege.
A judge has indicated that he will allow Arrium Group’s liquidator to give expert evidence at an upcoming trial in proceedings against the steel giant’s former directors over its $4 billion collapse, despite his other role as a party in the case.
Australasian food company Goodman Fielder has successfully challenged a bid by Conga Foods and an Italian pasta producer to register the ‘La Famiglia’ trade mark for pasta products.