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Quinn Emanuel to appeal loss in AMP class action beauty parade
Class Actions 2019-05-29 5:08 pm By Miklos Bolza

Law firm Quinn Emanuel Urquhart & Sullivan has told the court it will appeal a judgment permanently staying its shareholder class action against AMP over the wealth manager’s fees for no service scandal.

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Funders feel the heat as AMP ruling shows returns to class members matter most
Analysis 2019-05-24 3:05 pm By Christine Caulfield

A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.

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No win, no fee funding model carries Maurice Blackburn to victory in AMP class action contest
Class Actions 2019-05-23 10:29 am By Christine Caulfield

Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.

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Law firms to learn fate in AMP class action beauty parade
Analysis 2019-05-21 11:25 pm By Christine Caulfield

A ruling by a judge deciding a four-way contest to run a shareholder class action against AMP is expected this week, a judgment significant not just because it is the first time a court in Australia has been asked to choose among so many competing representative cases.

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Oaktree places Blue Sky into receivership amid class action threat
Restructuring & Insolvency 2019-05-20 11:05 pm By Cat Fredenburgh

US hedge fund Oaktree Capital has placed fund manager Blue Sky Alternative Investments into receivership, following a tumultuous period marked by the loss of senior executives and three shareholder class action investigations amid concerns about the company’s method for valuing its assets under management.

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Trial date at risk as Iluka Resources class races to lock in new funder
Class Actions 2019-05-16 4:53 pm By Amelia Birnie

The applicants in the Iluka Resources investor class action have just 14 days to sort out their funding troubles and provide a $1.25 million security, as a judge warns he will not be able to hold their trial date any longer.

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Common fund orders on shaky ground as High Court grants special leave to Westpac, BMW
Analysis 2019-05-15 9:58 pm By Christine Caulfield

The writing may be on the wall for common fund orders in class actions that put all unregistered group members on the hook for a litigation funder’s commission, after the High Court agreed Wednesday to take up landmark challenges by Westpac and BMW, experts say.

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Class actions still loom as ASIC drops probe into Blue Sky
Class Actions 2019-05-15 9:28 pm By Cat Fredenburgh

The Australian Securities and Investments Commission has dropped its probe into Blue Sky over possible violations of its continuous disclosure obligations, but the fund manager still faces three active shareholder class action investigations.

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High Court to hear challenge to common fund orders in class actions
Appeals 2019-05-15 12:19 pm By Christine Caulfield

The High Court has granted applications by Westpac and BMW to weigh in on the validity of common fund orders made in class actions, a decision that could have major ramifications for the way representative proceedings are funded.

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Ratepayers can’t strike out defences in class action against Queensland city council
Class Actions 2019-05-07 10:13 pm By Christine Caulfield

Ratepayers in a class action against a Queensland city council calling for the recovery of an invalid levy on their land failed in their bid to summarily dismiss the council’s defence that the unreturned portion of the charges was spent for their benefit. 

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