Appeal decision - Litigation funding and managed investment scheme regulation - 20 October 2009
The Full Federal Court has handed down its findings in Brookfield Multiplex Limited v International Litigation Funding Partners Pte Ltd [2009] FCAFC 147, an important decision in relation to the legality and regulation of class actions which receive litigation funding.
Regulatory investigation and waiver of privilege - ASIC v Lindberg - 16 October 2009
The recent decision of the Victorian Court of Appeal in ASIC v Lindberg [2009] VSCA 234 considered whether someone who holds legal professional privilege (LPP) can assert that privilege in information that is in the hands of a third party who has obtained it from someone other than the holder of the LPP.
International arbitration update - winter 2009
Commercially sensitive documents exposed by FOI in Queensland - 5 June 2009
On 2 June 2009, the Queensland Parliament passed the Right to Information Act 2009 (Qld) (the RTI Act) and Information Privacy Act 2009 (Qld) (the IP Act). These Acts create significant changes to the Freedom of Information (FOI) regime in Queensland. People will now have access to the documents of agencies and ministers, unless on balance, release of the material can be shown to be contrary to the public interest.
ASIC investigations and waiver of privilege - AWB Ltd v ASIC - 23 December 2008
A recent Federal Court decision considered ASIC’s obligations when it receives privileged material from employees or former employees of a company under investigation.
Mallesons ICA Update - November 2008
Guidance on notification of circumstances clauses in claims-made insurance policies - 31 October 2008
The decision of CGU Insurance v Corrections Corporation of Australia Staff Superannuation (2008) FCAFC 173, provides some important guidance to insurers and policy owners alike on the operation of notification of circumstances clauses in claims-made insurance policies. In short, the court refused to narrowly construe the requirement for notification provided in accordance with such clauses.
Policyholder Compensation Facility and a framework for judicial management - 28 October 2008
The Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 (FCS Act) and the Financial Claims Scheme (General Insurers) Levy Act 2008 (GI Levy Act) have commenced, bringing into force the Financial Claims Scheme as it affects general insurers and certain policyholders in the event a general insurer falls into financial difficulty.
Who’s suing who? - New laws to improve access to court information - 4 August 2008
Laws governing media and public access to court information will be overhauled by the NSW Government. This follows the release of a report by the NSW Attorney General’s Department recommending a new approach to access to court information for NSW courts.
Electronic discovery obligations in the Supreme Court of NSW - 4 August 2008
Approximately 90% of documents are now created and stored electronically, and between 35% to 70% of all electronic documents are never converted into paper. These changes in the way documents are created, stored and used have led to changes in the way that documents are handled in court proceedings. The most important change has been the development of electronic discovery, where electronic documents are exchanged in electronic form (rather than being printed out and exchanged in paper form).
Class Actions Bulletin - July 2008
This edition includes the following articles: Victoria Law Reform Commission recommends sweeping changes to class actions; Aristocrat Leisure settles proceedings - awaits court approval; Mind your language - plaintiff firm's blunder extends opt out period; Protection of whistleblowers in class actions; Centro faces multiple class actions; EC considers class actions for antitrust violations; and ASIC to commence fresh class actions on behalf of Westpoint investors.
Professional investor or not? - 23 May 2008
If banks and financial intermediaries in Hong Kong are not yet re-assessing their offerings of “professional investor only” investment products and staff sale practices to customers, they should be.
Cracking Cartels - Kevin Contemplates The Clink - 15 January 2008
On Friday 11 January 2008, Chris Bowen, the new Assistant Treasurer and Minister for Competition Policy, released the exposure draft Trade Practices Amendment (Cartel Conduct and other Measures) Bill 2008 to criminalise serious cartel conduct for public comment.
Hong Kong financial services regulatory update - 14 December 2007
The Court of First Instance of Hong Kong has recently held that the right to record oral answers at interviews was implied under the Securities and Futures Ordinance ("SFO") and that it is reasonably necessary for an investigator to insist on an audio recording at interviews.
Amendments to the PRC Civil Procedure Rules - 11 December 2007
The Civil Procedure Law was adopted by The National People’s Congress in 1991 and governs the procedures under which the court system may be used to settle civil disputes. An Amendment to the law, passed 28 October 2007 to come into effect 1 April 2008, attempts to ensure that rulings made by the Courts are carried out.
ASIC claims against Citigroup rejected - 29 June 2007
The Federal Court has held that the law will enable an investment bank to contract out of, or modify, any fiduciary obligations owed to a client.
Sons of Gwalia: shareholders as creditors - 1 February 2007
Are misled shareholders now to be treated equally with ordinary creditors in insolvency? For the moment, the answer is yes.
The changing US e-discovery landscape - 18 January 2007
Amendments to the US Federal Rules of Civil Procedure took effect on 1 December 2006. The amendments aim to make the rules better able to accommodate the differences between electronic discovery and conventional discovery and will provide a framework to resolve the novel issues which electronic discovery presents.
High Court gives litigation funders the green light: Campbells v Fostif -
31 August 2006
Yesterday the High Court paved the way for a much more significant role for litigation funders in class actions in Australia. It is now beyond doubt that litigation funders can control class action litigation with the purpose of profiting from it.
Corporate class actions in Australia - 15 June 2006
A comprehensive review of the increasing trend towards Australian corporate class actions.
Document destruction: Victoria introduces new criminal offence - 12 April 2006
In Victoria the Crimes (Document Destruction) Act 2006 creates a new criminal offence of destroying documents that are, or are reasonably likely to be, required as evidence in existing or potential legal proceedings. The new offence extends liability beyond the current common law. Corporations can be potentially criminally liable if a “corporate culture” existed within the organisation that encouraged or tolerated destruction of relevant documents. For a statute that imposes severe criminal penalties, the Act uses a surprising number of vague expressions.
International arbitration udate - March 2006
This editions includes the following articles: UNCITRAL Conference Singapore and IBA Conference; Prague, No choice of law: a case study Arbitration issues and developments, Australasia region; Practitioner in profile - Sally Fitzgerald; and Dates for your diary- China arbitration roadshow.
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