LITIGATION – AUSTRALIA

Lawsuit risks loss of groundbreaking prostate cancer treatment

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Original article by
abc.net.au – Page: Online : 26-Mar-25

Swiss pharmaceutical company Novartis is taking cancer care provider GenesisCare to the Federal Court over GenesisCare’s use of a treatment for metastatic prostate cancer called Lutetium PSMA I&T, which has been approved by the Therapeutic Goods Adminstration. Novartis argues that Lutetium PSMA I&T infringes on the company’s patent for a similar product known as Pluvicto; if its action succeeds, it will reduce the treatment options for men suffering from metastatic prostate cancer. The lawsuit was discussed on ABC Radio National Breakfast by Professor Sze Ting Lee, who chair the Australasian Association of Nuclear Medicine Specialists Theranostics Committee.

CORPORATES
NOVARTIS AG, GENESIS CARE PTY LTD, AUSTRALIA. THERAPEUTIC GOODS ADMINISTRATION

NAB sued over hardship silence

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Original article by David Ross
The Australian – Page: 15 & 19 : 19-Nov-24

The Australian Securities & Investments Commission has launched legal action against the National Australia Bank, alleging it breached its requirements to fairly deal with customers suffering financial hardship. ASIC claims the NAB failed to respond to at least 345 customers seeking help from it over several years, including people suffering medical emergencies and people fleeing domestic violence. The case against the NAB follows a similar case against Westpac, and ASIC chair Joe Longo noted it was a "sign of the times", with tougher economic conditions resulting in the financial sector having to deal with a rise in hardship cases.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC

Climate plans of Australian companies would be exempt from private litigation for three years under proposal

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Original article by Adam Morton
The Guardian Australia – Page: Online : 16-Jul-24

Legislation currently before the Senate aims to expand the amount of information that companies provide about the risk the climate crisis poses to their business and what they intend to do about it. The legislation provides a grace period of three years in terms of certain statements by companies, directors and auditors being subject to legal challenge, unless the company is being accused of criminal behaviour or is the target of action by the Australian Securities and Investments Commission. Although the legislation has been praised for targeting corporate climate responsibility, concerns have been expressed that the exemption will allow polluting companies to avoid public scrutiny for longer

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Local class-action litigation now second only to the US

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Original article by Jack Quail
The Australian – Page: 3 : 2-Jul-24

A report produced by the Menzies Research Centre has concluded that Australia’s litigation funding industry is now worth more than $200m, following huge growth over the last five years. The Liberal Party-aligned think tank notes that the litigation funding sector is "cashed up and thriving" amidst a lax regulatory environment. The MRC has urged the federal government to pursue greater regulation of litigation funders; amongst other things, it has recommended capping their fees at 30 per cent of a class action payout.

CORPORATES
THE MENZIES RESEARCH CENTRE LIMITED, LIBERAL PARTY OF AUSTRALIA

Former Arrium directors face recovery action

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Original article by Simon Evans
The Australian Financial Review – Page: 16 : 22-Jul-19

Insolvency firm KordaMentha has launched legal action in the New South Wales Supreme Court in an attempt to pursue former directors of failed steel firm Arrium for monies owed to its creditors. Arrium was placed in administration in April 2016 owing $2.8 billion to banks and noteholders. KordaMentha then operated the business as administrators until it was purchased by British billionaire Sanjeev Gupta for around $700 million in August 2017.

CORPORATES
KORDA MENTHA AND COLLEAGUES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, ARRIUM LIMITED

Hayne to leave banks with billion-dollar bill

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Original article by Angus Grigg, James Eyers, Edmund Tadros
The Australian Financial Review – Page: 1 & 8 : 17-Sep-18

Australia’s major banks face years of litigation and costly settlements as a result of the banking royal commission. Law firm Maurice Blackburn has already flagged plans for legal action over a number of issues, including the calculation of household expenses prior to loans being approved. Omkar Joshi of Regal Funds Management says he is reminded of the UK’s payment-protection insurance scandal, which ended up costing UK banks Stg40 billion. Hugh Giddy of Investors Mutual says it is hard to deny that banks have made loans to some people who were not in a position to borrow money.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, MAURICE BLACKBURN PTY LTD, REGAL FUNDS MANAGEMENT PTY LTD, INVESTORS MUTUAL LIMITED, AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, LLOYDS BANK PLC, OLIVER WYMAN GROUP, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SLATER AND GORDON LIMITED – ASX SGH, CORELOGIC AUSTRALIA PTY LTD

ASIC accuses NAB of $100m super rip-off

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Original article by Ben Butler, Michael Roddan
The Australian – Page: Online : 7-Sep-18

The Australian Securities & Investments Commission has launched legal action against National Australia Bank over the fee-for-no-service scandal. ASIC claimed in a suit filed with the Federal Court on 6 September that NAB had breached the law on 77 occasions, and that it had "ripped off" over 500,000 unwitting superannuation fund members to the tune of more than $100 million. ASIC claimed NAB’s actions had undermined confidence in the superannuation system, while NAB faces fines of up to $37.5 million.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, FEDERAL CIRCUIT COURT OF AUSTRALIA

Domino’s in David & Goliath battle over GPS

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Original article by Sue Mitchell
The Australian Financial Review – Page: 18 : 28-Nov-17

Domino’s Pizza Enterprises is the subject of legal action by Sydney IT company Precision Tracking. The latter has accused Domino’s of infringing its patents, and is seeking an injunction to prevent Domino’s from continuing to use its GPS Driver Tracker system, as well as seeking damages. Precision Tracking contends Domino’s system is based on its GPS technology. Litigation Capital Management is helping to finance Precision Tracking’s action against Domino’s. Precision Tracking claims it and Domino’s were involved in a partnership to develop its technology, but that the pizza maker reneged on their arrangement. Domino’s is counter-suing Precision Tracking and its three directors.

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, PRECISION TRACKING, LITIGATION CAPITAL MANAGEMENT LIMITED – ASX LCA, FEDERAL COURT OF AUSTRALIA

Turnbull moves to shut court doors on anti-coal activists

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Original article by Dennis Shanahan
The Australian – Page: 1 & 6 : 25-Oct-16

The Australian Government has flagged action to crack down on environmental activists’ use of the court system to block resources projects. Prime Minister Malcolm Turnbull has raised the possibility of reviving legislation aimed at curbing vexatious litigation by environmental groups. The mooted crackdown follows warnings from India’s Power Minister Piyush Goyal that opposition to Adani’s Carmichael coal mine could affect his nation’s future investment in Australia. The campaign against Carmichael has received funding from at least one US organisation that has links to John Podesta, who is heading the presidential election campaign of Hillary Clinton.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ADANI MINING PTY LTD, INDIA. MINISTRY OF POWER, DEMOCRATIC PARTY (UNITED STATES), GREENPEACE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, SANTOS LIMITED – ASX STO, AUSTRALIA. DEPT OF FINANCE, SUNRISE PROJECT, SANDLER FOUNDATION

Ashley Madison hack a feast for lawyers

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Original article by Marianna Papadakis, Katie Walsh
The Australian Financial Review – Page: 33 : 28-Aug-15

The hacking of Ashley Madison, the cheating website, is likely to lead to lawsuits in Australia. The site’s owners, Avid Life Media, are already facings hundreds of millions of dollars in damages in Canada and the United States, where two class actions alleging breach of contract, negligence and breach of privacy are pending. About 460,000 Australians may have been exposed.

CORPORATES
AVID LIFE MEDIA, AUSTRALIA. OFFICE OF THE FEDERAL PRIVACY COMMISSIONER, MARQUE LAWYERS PTY LTD, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, ALLENS, MINTER ELLISON, AON AUSTRALIA PTY LTD