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An opportunity for greater certainty for class action defendants
Insight 05 Oct 2016

Class action settlement negotiations are often hindered by uncertainty about the number and identity of potential claimants A recent decision of the Supreme Court of NSW has paved the way for defendants to achieve greater certainty in respect of unregistered class members at an earlier stage than ...

Court accepts market-based causation
Insight 21 Apr 2016

Perhaps the most important unanswered question in Australian class action law has been how causation may be established in a shareholder class action After more than a decade of uncertainty the Supreme Court of NSW has ruled that shareholders can prove causation by establishing that the price of the ...

Double recovery as a challenge to the enforcement of an arbitral award
Insight 01 Mar 2016

The Victorian Court of Appeal has refused an application for leave to appeal against the enforcement of an arbitral award The applicants applied for leave to appeal on the basis that enforcement of the award would be contrary to public policy as it would give effect to double recovery by the ...

NSW to go it alone on a tort of privacy?
Insight 11 Mar 2016

A New South Wales legislative committee has released a report following an inquiry into remedies for serious invasions of privacy in New South Wales In an unexpected and controversial move the report recommends that the NSW Government take the lead by introducing a statutory cause of action for ...

High Court examines powers of responsible entities
Insight 07 Nov 2014

The High Court has reaffirmed the powers of a responsible entity are ultimately derived from the scheme's constitution, but the exercise of those powers is constrained by the statutory and fiduciary duties imposed on the responsible entity. ...

Review into four major banks - money for consultants?
Insight 25 Nov 2016

The Parliamentary Economics Committee released its report following its review into Australias four major banks yesterday Our Financial Services Regulation team has a look at the recommendations in this update ...

Court confirms life easier for default interest clauses post-Paciocco
Insight 06 Dec 2016

New South Wales Court of Appeal case Arab Bank Australia v Sayde Developments considered the application of penalties doctrine to default interest rate provisions in load agreements post the high court's libera approach to the doctrine in Paciocco v ANZ. ...

A blow to class action judgments achieving finality
Insight 12 Dec 2016

In a recent decision, the High Court considered that a successful class action defendant cannot rely on mere failure by members of a class action to opt out of group proceedings to establish that these members are subsequently prevented from raising other claims ...

ASIC announces fintech licensing exemptions
Insight 19 Dec 2016

As part of its implementation of the regulatory sandbox for fintech companies ASIC is providing relief for certain fintech businesses from the obligation to hold an Australian financial services or Australian credit licence Relief may be available for up to 12 months and may be useful to businesses ...

The latest from the High Court on contractual interpretation
Insight 30 Mar 2017

A recent High Court case which addressed the Codelfa rule did not explicitly resolve the controversy as to its application, however may be seen as a further departure from the 'ambiguity gateway' approach. ...

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