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The former CEO of failed electronics retailer Dick Smith should be held responsible for approving two dividend payments worth $28.5 million which the company could not afford to pay given it owed millions in unpaid bank loans and supplier debts, an appeals court has heard.
The High Court has refused Sydney retail personality Con Constantine’s bid to challenge a $4.25 million judgment in his favour over the $81.8 million Parklea Markets sale in 2016.
A long-running class action over the Opal Tower disaster has settled, along with two related cases over the defective building, as a five-week trial was set to begin.
A judge overseeing two franchisee class actions against 7-Eleven that settled for $98 million has been urged to cut the payout to the law firm running the cases because it had a “troubling” practice of deferring its fees.
Car dealers that have brought a class action against General Motors over its decision to retire the Holden brand in Australia rejected offers of compensation totaling close to $5 million, according to court documents.
No evidence was produced of a deferred fee arrangement between the law firm and funder backing franchise class actions against 7-Eleven, and the "unequivocal" denial by the solicitor running the cases should be accepted, a court has heard.
General Motors Holden Australia has denied that it owes compensation to Holden dealers over its decision to retire the iconic brand in Australia, and says its dependence on other GM units to supply the cars constituted "an event beyond its reasonable control".
Almost half of the $3 million in legal costs incurred by former Tennis Australia president Steven Healy in successfully defending against the regulator's case over the broadcast rights to the Open were for "luxuries of litigation" that he should pay for himself, ASIC has told a court.
A marathon hearing of an application for court approval of a $98 million settlement in two 7-Eleven class actions has ended with a judge taking the rare step of signing off on the settlement amount while withholding approval of the legal costs and funding commission.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their "outrageous conduct" in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.