Maurice Blackburn beats rivals to AMP shareholders class action representation

The Supreme Court of NSW picked Maurice Blackburn to represent shareholders in a class action arising from disclosures at the Banking Royal Commission in 2018. Five separate law firms filed proceedings and it was impractical to allow all of them to continue separately. It wasn’t the quickest to file that won the contest. In fact, Maurice Blackburn was the last to file. Slater & Gordon was the second-last and will combine its proceeding with that of Maurice Blackburn. The big winner was Maurice Blackburn. The court picked the firm because it believed that the plaintiffs will have the best chance […]

More data on property sales recession and purple-bricked

The Domain website has published graphs and analysis on the volume of property sales in Australia. The graph for Australia-wide sales gives a strong indication that we are at the bottom of the roller coaster. Domain’s economist provides the following commentary: Australian property sales are close to record lows An estimated 98,000 properties were sold in the three months to March 2019. This was 17 per cent below the same period in 2018 and well below the peak of 163,700 sold in the three months to July 2003 (see graph). Property sales are 35 per cent below the most recent […]

Jones Day adds group of eight tax controversy lawyers, led by Dr. Niv Tadmore, in Firm’s Melbourne Office

Entire team comes over from Clayton Utz. Jones Day adds group of eight tax controversy lawyers, led by Dr. Niv Tadmore, in Firm’s Melbourne Office The global law firm Jones Day has expanded and enhanced its worldwide tax law capabilities with the addition of a group of eight tax controversy lawyers, led by Dr. Niv Tadmore, who have joined the Firm’s Melbourne Office. The group includes of counsels Steven Small, Simon Bowden, and Benjamin Lancaster; and associates Alexandra Fraser, Kipling Milton, Richard Keys, and Eloise Verbeek. All will be part of Jones Day’s Tax Practice. Widely recognized as one of […]

KPMG and Plexus in tie-up

KPMG has taken a 10 per cent stake in Plexus. Along with other investors, the founders of Aconex, Plexus has raised $4.65m. Founded in 2011, Plexus was one of the first Australian businesses to target corporations and their in-house legal departments with staffing and technology offerings that traditional law firms were not providing. Based on reports that Plexus services 65 per cent of top 100 ASX-listed companies, it would most likely be the market leader in Australia.  Other businesses with offerings in this segment include Lawcadia, Xakia Technologies, LawVu, Alifery, Crowd & Co., Dazychain, Lexvoco/LOD, Elevate and UnitedLex.  The Big4 accounting firms have […]

New entrant litigation funder has already invested $45m into cases

Augusta Ventures says that it has been an exciting year in litigation funding with developments relating to common fund orders, debates between the courts regarding the forum for shareholder class actions and the release of the Australian Law Reform Commission’s Final Report on Class Action Proceedings and Third-Party Litigation Funders.  Augusta has continued to play an active role in the Association of Litigation Funders (ALFA) with its Managing Director, Neill Brennan, sitting on ALFA’s Board of Directors. Augusta is happy to have reached its target of committing $30m to new cases over the last 12 months to May. Its committed […]

Ontario lawyers to put brakes on compulsory adherence to cultural trend

To practise law in Ontario, Canada requires promoting and adhering to a statement of principles on Equality, Diversity and Inclusion.  According to the Law Society of Ontario: All lawyers and paralegals play a vital role in Accelerating Culture Shift, one of 5 strategies adopted by the Law Society to address the barriers faced by racialized licensees. As part of this strategy you are required to create and abide by an individual Statement of Principles that acknowledges your obligation to promote equality, diversity and inclusion generally, and in your behaviour towards colleagues, employees, clients and the public.  An election for council […]

20 per cent downturn in conveyancing – can’t be true

[Image: Paul Keating, Prime Minister of Australia 1991 – 1996, pic source: Department of Foreign Affairs and Trade website – www.dfat.gov.au] Have you seen the headline across the media in the last couple of days: “House sales tumble to levels not seen since Keating as prices fall”.  20% fall in the volume of property sales; it can’t be true and what has Paul Keating got to do with it? But the source of the news is a reputable economist at a reputable big bank, “UBS senior economist George Tharenou said the number of home sales had now fallen by 20 per […]