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A judge has signed off on a settlement of a long-running class action against Westpac unit BankSA, and has ruled the law firm that brought the case has an equitable right to unpaid legal costs for investigating the case before it found a funder.
Commonwealth Bank's wealth management unit Colonial First State has been hit with a second class action in as many days, this one alleging it charged excesssive superannuation fees to fund commissions to financial advisers.
Justice David Hammerschlag of the NSW Supreme Court has a way with words that readily lends itself to dramatic courtroom headlines. The "Hammer," as he is known, also pulls no punches and is quick with one liners that keep counsel on their toes. Here, Lawyerly looks at some of the recent best moments inside courtroom 7D.
The careful, methodical approach of 20-year class action veteran and Allens partner Jenny Campbell is in demand in the fast-changing class action world, where the only certainty is uncertainty.
Commonwealth Bank subsidiary Colonial First State and former director Linda Elkins face a class action alleging the wealth management group breached its superannuation trustee duties by failing to promptly transfer $3.2 billion of default members’ funds to a lower-cost, high-performing MySuper product.
The applicant in a shareholder class action against Iluka Resources can put up security for the company's legal costs by way of two insurance deeds of indemnity, but a bid to use the deeds to replace the $1.25 million it earlier paid in cash security has failed.
A judge is considering whether he can increase a record $75 million civil penalty settlement reached by Volkswagen and the ACCC over the dieselgate scandal, after saying the people of Australia would be “upset” if they knew about some of the “outrageous” terms to which the consumer watchdog had agreed.
A judge has refused to sign off on a $42 million settlement of a class action against dairy giant Murray Goulburn, saying the commission sought by the funder appeared out of proportion to the risk and above the going rate.
A judge has ordered all proceedings against Dick Smith to be heard concurrently during a marathon three month trial, after the plaintiffs in a shareholder class action brought against the failed electronics retailer’s insurers aborted a fleeting bid to temporarily discontinue their case.
Corrs Chambers Westgarth has been retained by the AMP Financial Planners Association to weigh a possible class action against the wealth manager over its plan to cut the number of authorised advisers and retreat from a promise to buy back their businesses at a set multiple.