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Full Federal Court allows solicitors' common fund orders
In a significant and potentially controversial decision, the Full Federal Court has found it has the power to make a 'Solicitors' Common Fund Order', with the effect that solicitors will be able to receive a share of a settlement or damages award in a Federal Court class action as payment for costs. ...
Green shoots: digging into the ACCC's draft guidelines on sustainability collaborations
Climate change has been described as a 'defining challenge' for humanity. In these circumstances, it is timely that the ACCC has released its draft guide on the interaction between sustainability collaborations and Australian competition law (the Draft Guide). ...
Continuous disclosure for listed companies – key points from recent developments
With increasing scrutiny and a dynamic legislative environment, the continuous disclosure regulation of ASX-listed entities in Australia is evolving. Recent developments mandate a heightened level of vigilance and adaptability by companies ...
Nature-related risks should be at the top of the boardroom agenda: key steps directors should take to manage these risks
Nature-related risks and opportunities have fast become a hot topic of discussion in Australian boardrooms. Investors have warned that boards and executives need to be upskilled on nature-related risks to be ready for what is to come. ...
Switzerland found to have contravened European Convention on Human Rights in responding to climate change
The European Court of Human Rights (the ECHR) has recently delivered a decision concerning the human rights impacts of climate change in Verein KlimaSeniorinnen Schweiz and Others v Switzerland (European Court of Human Rights, Grand Chamber, Application No 53600/20, 9 April 2024) (Verein). ...
ASIC continues to prioritise compliance with financial hardship obligations
Lenders need to respond effectively to hardship notices. ASIC reviewed ten large home loan lenders to understand how they are supporting customers experiencing financial hardship. ...
Optus class action privilege claims rejected
The Full Federal Court has refused Optus' appeal from a Federal Court decision rejecting its legal privilege claim over a factual investigation report commissioned in response to a data breach, on the basis that Optus had not established that the report was prepared for the dominant purpose of legal ...
ASIC targets superannuation trustees on financial advice fees
On 9 May 2024, ASIC released its report, REP 781 Review of superannuation trustee practices protecting members from harmful advice charges, outlining findings from its review of progress by superannuation trustees in addressing risks of member harm from poor financial advice and inappropriate advice ...
Mandatory human rights due diligence in the mainstream – what the CS3D means for companies
The EU Corporate Sustainability Due Diligence Directive (CS3D) has been approved by the EU Council and EU Parliament and is expected to be formally adopted in coming months. The CS3D will establish a due diligence standard on sustainability issues and create potential legal liability for in-scope co ...
High Court holds that 'fair winds' permit recovery of expenditure wasted in constructing iconic aircraft hangar
In this Insight, we examine the differences between the various judges' reasoning and lay out what the implications are in practice. ...