Litigation funder IMF Bentham has shrugged off concerns about the High Court’s recent ruling on common fund orders, telling investors that it’s in a position to take over some class actions from funders daunted by the prospect of bookbuilding.
Shareholders of collapsed music streaming platform Guvera have filed a class action against an accounting firm seeking to recoup their losses for the firm’s alleged negligence in promoting an investment opportunity in the failed tech company.
Law firm Slater and Gordon is investigating a potential class action on behalf of sports clubs who claim they missed out on funding from a $100 million grants program overseen by Nationals deputy leader Bridget McKenzie.
A common fund order granting the litigation funder behind the stolen wages class action 20 per cent of a $190 million settlement remains in force after a High Court judgment that did away with such orders, a judge has found.
The judge who last month approved a $29 million settlement in a consumer class action against Radio Rentals has held that courts have power to order part of a settlement sum to go to charitable causes where distributing the funds to group members is too hard or impossible.
The lead applicant in a class action against 7-Eleven has appealed a ruling that denied its bid to block the convenience store chain from seeking litigation releases from franchisees upon renewal of their contracts.
A company owned by Clive Palmer has filed a lawsuit seeking to thwart a class action brought by villa owners in the billionaire’s now abandoned Palmer Coolum Resort.
Australia’s bushfire crisis has led to calls for a class action against a government perceived to be liable for its inaction on climate change. But representative proceedings may not have a high chance of success, a lawyer has told Lawyerly.
Unfunded group members in two shareholder class actions against online fashion retailer Surfstitch have been told they are likely better off to opt out of a settlement if a judge approves $6 million in fees and a 30 per cent commission sought by the law firms and funder that brought the cases.
Mortgage lending and investment company RMBL has agreed to pay $3 million to settle a class action alleging it charged excessive fees on loans and made misleading representations under its contributory mortgage fund scheme.